Divestment Will Lead To Loss Of Jobs, Says Concor Employees Union

The employees union of Container Corporation of India Ltd. on Monday said the government's plans to disinvest in the railway public sector undertaking will lead to loss of jobs.

The Cabinet Committee on Economic Affairs, chaired by Prime Minister Narendra Modi had recently accorded "in -principle" approval for strategic disinvestment of Government of India shareholding of 30.8 percent (out of 54.8 percent equity presently held by the Government of India) in Concor under the ministry of railways, along with transfer of management control to a strategic buyer.