Kumari Palany & Co

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Nationwide indefinite strike of Truckers starts today

Posted on: 18/Jun/2018 11:50:18 AM
All India Confederation of Goods Vehicle Owners Association (AICGVO) goes on strike indefinitely owing to negative effects of fuel price hike, bringing the trucking business into a downward spiral for past two years. The body of association announced already about 50 lakh vehicles participating the strike and will be off the road till the listed requests are considered by central government.

AIGCVO strike begins today pointing out the fuel hike, insurance issue and toll booth collections whereas the All India Motor Transport Congress (AIMTC) backed off from this strike and will not participate.

An increase of 30 percent in third party liability insurance by the Insurance Regulatory and Development Authority of India (IRDAI) was considered too much of a burden striking hard against the goodwill of the truck owners. Accident costs of previous years and age factor of various vehicles determines the overall premium rates in these proposes insurance policies. The rates were hiked by 18, 19 and 30 percent above the current premium rates.

Diesel price hike, sudden increase in the prices of lorry tyres and spare parts, maintenance costs, high rate of interest on vehicle loans, road tax and toll collection are some of the major causes degrading the entire commercial aspects of truck loadings. With these discouraging conditions the AIGCVO decided the indefinite strike as the only way to turn the focus of the central governments towards the issue.

But AIMTC decided against the will of All India Confederation of Goods Vehicle Owners Association (AICGVO) and announced that the body will go strike from 20th July. This differed decisions has created lots of confusion among the truckers and in the end people are going to suffer as all the negative effects will put a big hole in the money purses of Indian citizens.

Chennai Koyambedu market reports the prices of vegetables and fruits are likely to increase in the upcoming days as the result of strike. Many expert opinions mentions about the current financial crisis faced by the trucking business affecting many small and medium scale business that are oriented with the truckers movement.