GUWAHATI, Nov 18 � Members of the North Eastern Region General Insurance Employees� Association (NERGIA) took out an hour-long candlelight procession in the city on Monday evening in protest against the Insurance Laws (Amendment) Bill, 2008.
The procession, which started on the bank of the Panbazar Nagkata Pukhuri around 5.30 pm, dispersed on the southern bank of the Dighalipukhuri around 6.30 pm, parading through the main thoroughfares of the Panbazar area. Over 100 members of the Association took part in the procession.
It was addressed by NERIGA president Bhubaneswar Barua and Guwahati Divisional Insurance Employees� Association general secretary Bhabendra Kumar Kalita.
The participants expressed their opposition to the Centre�s decision to enhance the share of Foreign Direct Investment (FDI) to 49 per cent in the insurance sector of the country from the existing 26 per cent.
They also opposed the Central Governments� proposal to disinvest 49 per cent of its share in the public sector general insurance companies of the country.
The speakers addressing the NERGEA members during the programme described the bids to enhance the share of FDI and reducing the Central Government share in insurance sector of the country as detrimental to the national economy.