Loss from trucks' strike over tolerance limit: PHD Chamber

Even as the countrywide truckers strike called by the All India Motor Transport Congress entered its seventh day on Thursday, a leading industry chamber urged the government to find ways to end it as the loss to the "economy has crossed tolerable limits".

An estimated 90 lakh trucks have been off the roads since July 20 with truckers protesting against high diesel prices, and for removal of all toll barriers across the country and reduction of the third party insurance premium.

"PHD Chamber urges the Government to find solutions to end the truckers' strike, as loss to the economy has crossed tolerable limits," the industry body said in a release here.

"More than (Rs) 20,000 crore of economic activities have already been impacted due to the suspension of operations during the last week in terms of movement of goods within India and destined for exports to international markets," it said.

PHD Chamber of Commerce and Industry President Anil Khaitan said the strike can have severe impact on Indian exports and the country could lose an opportunity to avail the benefit of growing global demand.

"The strike has impacted the growth and productivity of manufacturing sector, as disruptions in the supply chain is resulting into cut in production on account of non-availability of raw materials.

"The hit on production would impact the revenue realisations of firms and a loss to the exchequer.

"The increase in prices of vegetables and fruits on account of disruptions in supply chain will impact the food inflation and may stoke the overall inflationary scenario in the coming times," he said.

Some of the other demands of the truckers include abolition of TDS, rationalisation of income tax, smoother functioning of the E-way bill, national permit for tourists and buses and abolition of the direct port delivery tendering system.

--IANS

bc/vd