Industry in Huge Loss due to Transport Strike

Ludhiana, July 26, 2018: S.Upkar Singh Ahuja, President & Sh.Pankaj Sharma, General Secretary, CICU in a joint statement said that the Industry is suffering heavily from last 6 days due to nationwide strike of transporters. It is estimated that the total loss incurred by industry is to the tune of Rs. 20,000 crores, which is primarily due to stoppage of production.
Vehicle carrying essential commodity are also stopped & damage by striker, which is against the law Govt. shall take strict steps.
As there is no movement of Goods, many manufacturing units have stopped production in their factories, this has resulted in damaging the image & credibility of the entrepreneurs.
They further said that the impact of the strike is so huge on the industry that it has forced the units to suspend their production in the absence of no supply of raw materials.
As many units work on hand to mouth basis, this strike would lead to loss of livelihood for casual workers as well as regular workers, they would have to work without incentives and overtime.
They also stressed that if strike continues for another couple of days and government doesn’t intervene in the matter, the industry may lose good amount of foreign exchange due to not fulfilling their export obligations.
The delay in shipments would lead to LCs expiring, air shipment costs and cancellation of orders and loss of reputation/credibility with foreign buyers.
CICU has appealed to the Government and the striking associations to find an amicable solution in the general interest of the country and its citizens. Any delay will lead to a multiplication of problems with more units shutting down and orders being cancel.