This is the second time the employees of the insurance sector regulatory body had extended the strike which began on Nov 20.[break]
“If the management fails to address our demands by that time, we will launch even severe protest programs,” Purna Bahadur Thapa, president of Employees Association of Insurance Board, told Republica without explaining what “severe programs” meant.
Dr Fatta Bahadur KC, chairman of the IB, said the demands of the employees have been forwarded to the Finance Ministry - the parent authority of the IB. “But since the finance secretary is not in the country, there has been some delay,” KC said.
The delay in kick-starting negotiations with the protesting employees has, however, affected insurance companies as they regularly need to coordinate with the regulatory body and seek its guidance and support to carry out day-to-day works.
The protest has also affected individuals, who want to file complaints against insurance companies, as the IB is the first place where people, who think they have been cheated by insurers, go to file their complaints.
Employees of the IB had launched the strike citing the management reneged on the promise made two years ago.
At that time, the agitating staff claimed, the management had signed a written agreement to provide daily allowance of Rs 150 to each employee, introduce housing plan for the workforce and send each staff member on a 15-day forced leave every year.
Other demands included annual distribution of additional five months of salary and allowances as festival and vacation allowance, modification in voluntary retirement scheme and change in organizational structure keeping in view growing workload of the Board.
The employees have also been asking for promotions in case the IB is converted into the Insurance Authority, which is expected to happen once the new Insurance Act is enforced.
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