Disinvestment move flayed

Employees of four nationalised insurance companies in Thanjavur staged a demonstration here on Thursday opposing the strategic disinvestment move opted by the Central government to bring in private ca

Employees of four nationalised insurance companies in Thanjavur staged a demonstration here on Thursday opposing the strategic disinvestment move opted by the Central government to bring in private capital for the United India Insurance Company’s economic growth. Referring the statement made in this regard by the Union Finance Minister Nirmala Sitharaman in the Budget speech in February this year, the demonstrators urged the Central government to drop the proposal to allow the private sector to gain control of the Central Public Sector Enterprises. Terming the move as `anti-people,’ the demonstrators including the retired employees of the Nationalised Insurance Companies exhorted the Central government to safeguard the interests of the general insurers by allowing the CPSEs as Nationalised entities.