On Monday, under the banner of Joint Forum of Trade Unions (JFTU),the unions participated in conciliation meeting with the management under the guidance of chief labour commissioner(CLC). Various arguments took place in the meeting from both sides and finally CLC advised the managements to give proper bilateral opportunity for discussion with the associations within 15 days and take the suggestions, union sources said

New Delhi:

The unions of PSU general insurance sector have decided to defer their Jan 4 strike as a result of conciliatory meeting with the management of the companies under the guidance of chief labour commissioner, government of India.

A section of employees of public sector general insurance companies had given a call to go on strike on January 4 against the proposed unilateral restructuring in the state-run insurers.

“In the meeting, it was advised that the management should consider the suggestions of the associations positively. Management has now agreed to meet the associations within 15 days for the same. In the light of these instructions from CLC office and management decision, we have decided to defer the strike till further advices,’’ said unions.

On Monday, under the banner of Joint Forum of Trade Unions (JFTU),the unions participated in conciliation meeting with the management under the guidance of chief labour commissioner(CLC). Various arguments took place in the meeting from both sides and finally CLC advised the managements to give proper bilateral opportunity for discussion with the associations within 15 days and take the suggestions, union sources said.

The unions had alleged that the proposed restructuring would weaken the public sector entities. The JFTU said that in the last couple of years about 1,000 offices, mostly in Tier II and Tier III cities, have already been closed.This unilaterally forcing massive closures and mergers of hundreds of offices in public sector general insurance companies (PSGIC) are not only affecting the policyholders but the citizens at large, it said, adding that it is also giving undue favour to private insurance companies to capture the market in Tier II and III cities.

Four insurers, National insurance Company Ltd, Oriental Insurance Company Ltd, New India Assurance Company Ltd, United India Insurance Company Ltd and GIC Re, having around 44,000 employees and officers are forced to observe a one-day strike on January 4, it had said.