Industrialists on streets seeking control of prices
Captains of the industries in the region came out into the streets on demanding immediate intervention of both Centre and state governments to check the unprecedented rise in the prices.
By PTI |
COIMBATORE: Captains of the industries in the region came out into the streets on Saturday demanding immediate intervention of both Centre and state governments to check the unprecedented rise in the prices of raw materials used in engineering industry so as to stop closure of many units leading to loss of lakhs of jobs.
Over 1000 industrialists, representing 16 trade and industries associations, took out a procession and later staged a demonstration near red cross building in the city demanding ban on on-line trading and also supply of steel through cooperative societies to control the prices.
Claiming that prices of all major industrial raw materials like pig iron, coke, copper, brass plastics and aluminimum were continuously increasing for the past few months particularly from January 2008, the associations said the prices of iron and steel and metallurgical coke have skyrocketed leading to slowdown in industrial and construction activities.
The major manufacturers were increasing the prices of iron and steel on a weekly basis C Muthusamy, President, Coimbatore District Small Industries Association (CODISSIA) alleged.
The price hike has severely affected micro, small and medium enterprises (MSME) in engineering sector which were struggling to meet the committed supply at contracted prices to their customers incurring huge losses,he claimed.
Over 1000 industrialists, representing 16 trade and industries associations, took out a procession and later staged a demonstration near red cross building in the city demanding ban on on-line trading and also supply of steel through cooperative societies to control the prices.
Claiming that prices of all major industrial raw materials like pig iron, coke, copper, brass plastics and aluminimum were continuously increasing for the past few months particularly from January 2008, the associations said the prices of iron and steel and metallurgical coke have skyrocketed leading to slowdown in industrial and construction activities.
The major manufacturers were increasing the prices of iron and steel on a weekly basis C Muthusamy, President, Coimbatore District Small Industries Association (CODISSIA) alleged.
The price hike has severely affected micro, small and medium enterprises (MSME) in engineering sector which were struggling to meet the committed supply at contracted prices to their customers incurring huge losses,he claimed.
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