Vijayawada: Employees of the Life Insurance Corporation of India (LIC), under the banner of the All India Insurance Employees’ Association (AIIEA), staged a lunch-hour demonstration here on Wednesday, protesting the Union Government’s decision to further dilute its stake in LIC through an Offer for Sale (OFS). The demonstration received support from CITU AP State Committee president Ch Narsinga Rao, who was the chief guest. Addressing the gathering, Dr Chilakalapudi Kaladhar, Divisional Joint Secretary of the Insurance Corporation Employees’ Union, said the AIIEA strongly condemned the Government of India’s decision to proceed with the OFS announced on August 3, 2026. According to him, the government has already raised over Rs 21,000 crore during the current financial year by offloading shares in seven public sector undertakings. The association demanded that the Union Government immediately withdraw the proposed OFS and abandon what it described as the policy of gradual privatisation of public sector assets.