Mangaluru: MLA U T Khader informed that the government’s move of selling a part of its shares in Life Insurance Corporation (LIC) is just like a married person selling his or her “mangalasutra” to cope with their financial difficulties.
During her budget speech, Finance Minister Nirmala Sitharaman had proposed that the government sell a part of its holding in LIC through Initial Public Offer (IPO). Opposing the move of the government, Khader on Sunday, January 2, said that the government has already privatised many government-undertaking institutions to facilitate corporate companies.
“LIC is fully-owned by the central government and has the highest market share in the life insurance sector of the country. Besides that, it has contributed a lot to the economic growth. However, in order to streamline the country’s financial status, the government is now planning to sell its LIC shares. This move is similar to the sale of a ‘mangalasutra’ by a person who is in a financial crisis,” he added.
Khader also demanded MPs from Karnataka to approach the union government immediately, in order to secure more funds for the development of Karnataka; at least in the supplementary budget.
It can be recalled that BJP leaders had accused Khader of not handing over houses intended for 390 beneficiaries of the Rajiv Gandhi Rural Housing Corporation (RGRHC) in Ombathukere.
Responding to the allegations, Khader said, ” As locals in the area approached the court and succeeded in bringing a stay order on the housing project, I could not go ahead with it. MP Nalin Kumar Kateel is blaming me only to cover up his mistakes.”
MLC Harish Kumar, Mangaluru Taluk Panchayat President Mohammed Monu and leaders like Ishwar Ullal, Santhosh Kumar Shetty were present.
