![]() Financial Daily from THE HINDU group of publications Friday, Sep 19, 2003 |
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Money & Banking
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General Insurance Privatisation of ESIS mooted R.Y. Narayanan
Coimbatore , Sept. 18 A SUGGESTION to the Centre to consider privatisation of the Employees State Insurance Scheme (ESIS) has been made by the Indian Chamber of Commerce and Industry (ICCI), Coimbatore. While welcoming pension reforms, it has also expressed the view that apart from government employees, those working in private sector too should be permitted to join it. In a statement, Mr A.V. Varadharajan, President, ICCI, Coimbatore, said the ESIS was in a sorry state. Though the employees and employers were making large contributions, "The quality of medical care and sickness benefit that the employees are getting are deplorable," he said and felt that privatisation and competition in medical insurance could benefit workers and wanted the Government to consider privatisation of ESIS. Welcoming the proposed pension scheme, he said apart from government employees, those working in the private sector and covered under the ESIS, should be allowed to join the new pension scheme.
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