10,000 development officers to observe one day fast

Chennai, Aug 20 (UNI) About 10,000 development officers working in four public sector General Insurance companies will observe a day's fast in front of the head offices of the companies tomorrow demanding implementation of the wage settlement.

All India General Insurance Field Workers' Association (AIGIFWA) National Working President S Vasudevan and State Secretary Arul told reporters here today that the fast was also to protest against the management's move to privatise the four insurance companies viz., New India, Oriental, United India and National.

They said despite finalising the wage revision in September 2005, the managements of the insurance companies did not implement them for the development officers cadre citing pending court cases.

However, the association got a Supreme Court order in December 2005 that wage revision was not a ban in connection with the case and that it would amount to contempt of court.

Despite this, the managements were not willing to implement the wage agreement with a view to make the development officers redundant to promote brokers and corporate agents to benefit private insurance companies.

The fast would be held in front of the head offices of all the four firms in New Delhi, Mumbai, Kolkata and Chennai.

The association threatened to launch an indefinite fast from August 28 in front of the National Insurance Company head office at Kolkatta if the management did not concede the demand.

They alleged that moves were afoot to dilute the government's stake in these four PSUs. With a view to offload the shares, the mangements of these insurance companies were planning to come out with a public issue in March next year to dilute the government's stake.

UNI