Modi govt planning to sell 'strategic' PSU to crony capitalists: Rahul

Congress leader Rahul Gandhi on Tuesday alleged that the BJP government was planning to sell the profitable public sector undertaking Container Corporation of India (CONCOR), which comes under the Railways.

Gandhi had earlier met members of the CONCOR union on Tuesday. CONCOR was incorporated in 1988 and claims to be the "undisputed" market leader in the container warehouse segment, operating a network of 84 inland container depots. CONCOR provides inland transport by Railway for containers and also manages ports and air cargo complexes.

Gandhi tweeted a notification from the ministry of finance that claimed the government was considering partial disinvestment of its holdings in a "government company under administrative control of ministry of Railways," along with transfer of management control. Proposals have been invited by November 4.

Gandhi tweeted a petition from the CONCOR union, which claimed the company was the only Navratna PSU in the Railways. The petition claimed that with the completion of the dedicated freight corridor, the market value of CONCOR would increase from the current Rs 34,733 crore to Rs 100,000 crore.

The petition claimed that nearly 10 lakh families, of employees directly and indirectly working with CONCOR, would be affected by any decision to disinvest the company. The CONCOR union petition stressed the company's role in national security, including the movement of currency notes, nuclear fuel and defence equipment.

Gandhi tweeted, “Highly profitable and strategic, the Container Corporation (CONCOR) is a PSU jewel that some of the PM's greedy crony capitalist friends are hungry for and the Government plans to sell... I met members of the CONCOR union today...”