Insurance strike partially successful

Mumbai, March 23 | Updated: Mar 24 2005, 06:12am hrs
The first day of the two-day country-wide strike on March 23 by state-owned general insurance employees has partially become successful.

The strike call bt National Federation of General Insurance Employees to protest against the GIPSA management and the Governments move to offer an 8.5% wage rise was not supported by two other associations, including one controlled by Shiv Sena.

There were 30-40% attendance of the staffers in Mumbai, while the eastern and southern parts of the country, where the trade unions have a greater hold, have seen more response to the strike call.

Explaining the rationale behind the strike-call, the associations working president, MS Upadhyay said: We are seeking a parity in wage hike. In the banking industry, the wage negotiations with IBA have reached their final stage. In the LIC, the negotiations are reaching the level of finalisation, after the improved offer of a 13.3% wage hike plus upto 6% productivity-linked lumpsum incentive . We seek a wage hike to the tune of 14 -15%, he said.