New Delhi: LIC employees’ unions on Saturday opposed the Centre’s plan to sell a part of its shares in the public sector insurance behemoth through an initial public offer (IPO), saying that the move is “against the national interest”.
Finance Minister Nirmala Sitharaman today announced that the Life Insurance Corporation of India (LIC) will be listed as part of the government disinvestment initiative.
“We strongly oppose the government’s plan to sell a part of its shares in LIC and the move is against the national interest,” a spokesman of an employees’ union told PTI .
The employees’ unions of LIC across the country will stage nationwide protests if the government goes ahead with its plan, the spokesman said.