P
R E S S S T A T E M E N T
Date
08.10.2012
Confederation of Central Government Employees and workers strongly condemns the
recent decision taken by the Union Cabinet to allow FDI in Insurance and Pension
sectors. Both the Pension and insurance are long time savings instruments
and the funds are greatly drawn from the common people. The Insurance Sector in
which the Government had a monopoly till the advent of the neo liberal economic
policies has remained as one of the most efficient, customer caring and profit
making public enterprises. It contributes about 25%of the total investment of
Govt. of India funded projects.
The
permission to have 49%FDI in the two sectors will obliterate the Indian
entrepreneurs as they would not be able to meet the challenge of the cut throat
competition and unfair marketing practices to be unleashed by the giant
transnational corporations. Besides, the UPA II Govt. has chosen to ignore
the huge loss of about 4 Trillion dollars suffered by the Pension fund operators
in the USA due to the global financial crisis from which the West European and
American Economy is yet to come out. This decision of the Union cabinet is
clearly to bail out those transnational corporations from the financial
crisis. The Government’s decision will enable the Pension fund operators to
lure the ignorant common pension beneficiaries to speculative market and the
consequential liquidation of their savings and negation of pension benefit at
the evening of their life.
The present decision
of Manmohan Singh Government read with the intensified desire to enact the PFRDA
Bill in the winter session of the Parliament must be seen as the most
treacherous and anti people decision taken at the behest of and compulsion from
the International Finance capital and especially to oblige the US Government
whose President is seeking re-election.
The Confederation has
called upon the CG employees to organize campaigns and organize a day’s strike
on 12th December, 2012 to compel the Government to rescind this anti people
decision and withdraw the PFRDA Bill.
K.K.N.
Kutty
Secretary General
Copy
forwarded to affiliates and State Committees of the Confederation with
a request to issue necessary direction to unleash intensive campaign through
meetings, demonstration, dharna etc. The State Committees are also requested
to send a brief report of the campaign undertaken in September, 2012 in
preparation of the one day strike on 12th December,
2012.
