Companies

Concor workers urge Centre to reconsider strategic sale, protests on Thursday

New Delhi | Updated on November 26, 2019 Published on November 26, 2019

The Concor Employees Union, representing the workers in Container Corporation, has decided to hold nationwide protests against the CCEA approval for strategic disinvestment in Concor along with transfer of management control. Urging the Centre to reconsider the decision, the Concor Union said it will hold nationwide protests on November 28 and will subsequently decide further course of action.

Union’s Joint Secretary Debasis Majumder told BusinessLine that they will express solidarity with the BPCL employees who are also striking work on the same day.

“Concor is the only Navratna PSU in the railways and it’s a performing organisation for creating balanced growth of the economy by promoting export/import on pan-India basis through its 83 terminals. Out of 83 terminals 43 are on railway land and the approximate cost of land is ₹25,000 crore and if disinvestment is executed then this land will go to the hands of the private player. Whereas by strategic disinvestment of Government of India shareholding of 30.8 per cent the government will get only ₹10,780 crore,” he said.

The union said with the completion of Dedicated Freight Corridors the market value of Concor will increase to ₹one lakh crore because all its container terminals are strategically located in the vicinity of dedicated freight corridors. “The total market share of Concor in multimodal logistic sector is 73 per cent,” Majumder said.

He said the employees built the company with their hard work but in the process of disinvestment and strategic sale, they are being ignored. “As a result, there is fear among employees regarding sudden change of service conditions and ambiguity regarding facilities and their rights,” he said.

Published on November 26, 2019
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