The Polit Bureau of the Communist Party of India (Marxist) has issued the following statement on January 19, 2017.
THE CPI(M) strongly opposes the clearance given by the union cabinet for disinvestment of shares in the five public sector general insurance companies. The decision is to disinvest by 25 percent shares in each of these companies.
By this step, the government is weakening the nationalised general insurance companies which have been running well. They have been regularly earning profits and contributing to the government’s revenue.