Kathmandu. KATHMANDU: Employees of the National Life Insurance Company (LIC) have expressed solidarity with the ongoing protest by the Securities Board of Nepal (SEBON) over the issue of reduction in perks.
Issuing a press release today, Nepal Financial Institutions Employees Association, National Life Insurance Company expressed solidarity with the protest of Sebon employees. “The Association’s serious attention has been drawn to the decision to cut down on various services and facilities that the employees have been enjoying since the establishment of Sebon as per the letter issued by the Ministry of Finance on September 14 and to recover the amount of services and facilities used by the employees from the past till now as government dues,” reads the statement.
“The attempt to unfairly curtail the perks of employees under the Securities Act, 2063 and the Board’s Employee Conditions of Service Regulations is a direct attack on the autonomy of the employees and a direct attack on the legal rights of the employees,” the statement said. “The Ministry of Finance has attacked the autonomy of SEBON in accordance with Principle (2) of the International Umbrella Organization of Securities Market Regulators (IOSCO), which states that the securities regulator should be autonomous,” the statement reads. g. ’
Convention of the International Labour Organization (ILO) According to Article 95, the reduction in the perks enjoyed by the employees without the consent of the employees is a violation of the international labor standards. “At the same time, the decision of the Ministry of Finance to deduct the benefits of the employees of Sebon and to pay the benefits of the employees of Sebon at par with the rest of the government is completely impractical and flawed and it is clear that the Ministry has crossed the limits of arbitrariness,” the statement reads.
Therefore, a joint statement issued by the Triyasheel Employees Union Organisation at the Securities Board of Nepal on September 22 in this regard and expressed solidarity with the ongoing protest programs. “The association also requests the government to immediately withdraw the erroneous decision made by the Ministry of Finance and maintain the autonomy of SEBON, one of the three pillars of the financial sector of Nepal,” reads the statement. The union strongly demands that we should take the initiative. ’
