The Hindu : Tamil Nadu News : Stop move to increase FDI, says AIIEA

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Tuesday, Dec 02, 2008
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Tamil Nadu

Tamil Nadu

Stop move to increase FDI, says AIIEA

Special Correspondent

Centre urged to contain prices of essential commodities

Thanjavur: The regional conference of the All India Insurance Employees Association (AIIEA) held here on Saturday and Sunday has appealed to the Central government to stop its move to increase the Foreign Direct Investment from 26 per cent to 49 per cent.

A resolution adopted at the conference said that insurance companies functioning in countries like USA have sustained losses and are in insolvent stages.

Permitting such companies to invest more in India will go against the interest of the people and policy holders.

Briefing presspersons about the resolutions passed in the conference, J. Gurumurthy, Secretary, AIIEA said that the Centre should amalgamate the four public sector insurance companies in the country and make it into a single Corporation.

The conference appealed to the Centre to take steps to contain price rise of essential commodities.

“Ban online trade”

“Government should ban the online trade to contain price rise,” Gurumurthy said.

Government should take steps to bring down petrol prices as the price of crude has come down in the international market.

Other demands were that the government should not permit foreign direct investment in retail sales, salary hike and promotions for insurance employees.

The conference condemned the terrorist attack on Mumbai.

It called for ceasefire in Sri Lanka.

It appealed to the Tamil Nadu government to take adequate steps to prevent power cuts by taking up new power generation projects.

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