Industries badly affected by strike of truck owners: UCPMA

Ludhiana, October 5, 2015: The United Cycle and Parts Manufacturers Association (UCPMA) president Charanjit Singh Vishivkarma has said the Industries are badly affected by the strike of Truck Owners. All the factories are closed as there is no transactions either supply to different towns or receiving of raw materials as well as finished goods. Already there is recession in the market. Upon such a recession period this is other major problems recently the industries are facing. Bicycle worth Rs 6000 Crores and parts worth of the same amount has been blocked in factories and further there is no space left to store the materials. The capital is being blocked in the form of stocks due to which it is very difficult for the factory owners to rotate the funds. The factory owners are in depression as they have to pay the Bank interest, salary to the workers on regular basis. If same situation continuous than it will be very difficult to fulfill the exports order as well as the Government tenders. In both the above case time period is bound. If the materials is not being supplied to the above two parties than the factory owners have to bear heavy losses. Further with the closure of production about 3 lacs workers will have to suffer the jobless problems.

In a statement here today, he added as the truck is the backbone for the industries. So if the strike continuous then it will also be very heavy losses to the economy of the state also. So it is request from the Government to look into this matter seriously and try to solve the problems of strike as soon as possible so that the Industries can run smoothly.