GLC unions to discuss effect of share divestment

The Congress of Union Malaysia in Government-Linked Companies was said to have held an emergency meeting recently in order to deliberate the consequences of the government's decision to divest shares in a number of government-linked companies (GLCs) on its members. The Congress’ statement made plain its concern on the government direction to Khazanah Nasional Bhd and the Employees Provident Fund (EPF) to hasten the divestment of equity share holdings in GLCs. It was reported to have stated: The GLC unions have not been consulted in this huge shift in the National Economic Plan and the strategy for implementing the divestment of government shares. In addition, the Congress has urged the government to give details on the divesting of Khazanah Nasional Bhd's thirty two percent equity in Pos Malaysia Bhd. According to news reports, eight unions under Pos Malaysia, representing fifteen thousand workers, had not been consulted on this move.

The Congress of Union Malaysia in Government-Linked Companies was said to have held an emergency meeting recently in order to deliberate the consequences of the government’s decision to divest shares in a number of government-linked companies (GLCs) on its members.

The Congress’ statement made plain its concern on the government direction to Khazanah Nasional Bhd and the Employees Provident Fund (EPF) to hasten the divestment of equity share holdings in GLCs. It was reported to have stated:

The GLC unions have not been consulted in this huge shift in the National Economic Plan and the strategy for implementing the divestment of government shares.

In addition, the Congress has urged the government to give details on the divesting of Khazanah Nasional Bhd’s thirty two percent equity in Pos Malaysia Bhd. According to news reports, eight unions under Pos Malaysia, representing fifteen thousand workers, had not been consulted on this move.