The All India Insurance Employees Association (AllEA) has condemned the suspension of 12 members of the Rajya Sabha for the entire winter session of Parliament. The action is in violation of all democratic and parliamentary procedures, AIIEA general secretary Shreekanth Mishraa alleged.
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In a statement issued on Wednesday, Mr. Mishraa noted that the 12 MPs were suspended on the allegation that they had disrespected the Chair and behaved in an unruly manner.
“The suspended members, along with the entire Opposition, were protesting against the manner in which the Centre was trying to railroad the General Insurance Business Nationalisation Act (Amendment) Bill, and were demanding that the Bill be referred to a Parliamentary Committee for a detailed study of its impact on the national economy. The entire nation watched live how the government brought the Marshals to suppress the protest and pushed the Bill through without any discussion on such an important Bill,” Mr. Mishraa said.
The public sector insurance industry has played a key role in national development. The Standing Committee on Finance recognised the importance of this sector when it scrutinised the Insurance Laws (Amendment) Bill and recommended that the government must hold at least 51% equity in State-owned General Insurance Companies. This recommendation was accepted and subsequently, the Insurance Laws Amendment Bill was approved by the Parliament, he said.
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On August 11, 2021, the government wanted to break this commitment given to Parliament by bringing an amendment to reduce its holding to below 51%. Mr. Mishraa alleged that this was done to enable privatisation of the entire public sector general insurance industry.
The AIIEA said it was grateful to the MPs for ‘bringing into national focus the disaster of privatisation of public sector insurance companies and support their struggle against the undemocratic and unjust action’.