Coimbatore: LIC employees' here on Tuesday boycotted work for an hour opposing the Centre's plan to sell a part of its shares through an initial public offer (IPO).
Coimbatore: LIC employees' here on Tuesday boycotted work for an hour opposing the Centre's plan to sell a part of its shares through an initial public offer (IPO).
Finance Minister Nirmala Sitharaman while unveiling the Budget 2020- 21announced that Life Insurance Corporation of India (LIC) will be listed as part of the government disinvestment initiative and the government's proposal to sell a part of its holding in LIC through IPO, she said.
Insisting that the move is against national interest, the LIC employees staged a one-hour boycott from 12pm to 1pm in front of the Coimbatore Zone LIC's office, here.
Staff members said they would engage in a series of protests if the central government fails to revoke the decision.
It may be noted that over 1.25 lakh LIC employees in India went on boycott today for one hour.