DMS to collect 1 crore signatures opposing centre's decision

Visakhapatnam,Oct 15 (UNI)The Bharatiya Mazdoor Sangh (BMS) All Indian General Secretary K.Lakshma Reddy today Demanded Withdrawal of Centre's move to appoint private companies to manage Employees Provident Fund (EPF).

Addressing a Press Conference here, He said the Board, chaired by the Union Minister of State for Labour and Employment Oscar Fernandes decided to Appoint Private companies like Reliance Capital, HSBC and ICICI to Manage E.P.F. From this, it was evident that the UPA government wants to invest the workers hard earned P.F. in Stock market through the Private Fund Managers, eventhough there was no security.

While the American economy was in great turmoil and top-most banks were collapsing one after the other, the UPA Government was imitating the American model of economy and pushing through the 'Reforms', he alleged. He also demanded the Centre to draw lessons from the recent happenings in the financial sector in America and withdraw the 'Economic Reforms'.

In the second phase of their agitation, BMS would mobilise one crore workers from November 1 to 15.

An All India delegation of BMS would also meet president Prathibha Patel in New Delhi and submit the signatures to her, he said.

UNI BSR VV AK1522