Plywood makers hike rate by 7%
TNN | Updated: Oct 13, 2018, 13:08 ISTLUDHIANA: Following inflationary market trends, the plywood manufacturers of the city have increased the rate of products (plywood and plyboard) by 7% with immediate effect.
The members of Punjab Plywood Manufacturers Association (PPMA) said the rates have come into effect since Thursday.
PPMA chairman Ashok Juneja said, “Due to inflationary trends, the cost of inputs and raw material like wood, chemicals and allied products used in manufacturing of plywood and plyboard has gone up by 10%. Since we are already facing slump along with high rate of tax under GST, we have been struggling to adjust the rates of our products in the required proportion. In order to cut down our losses, we have decided to hike the rates of our products by 7% with immediate effect.”
According to PPMA president Inderjit Singh Sohal, the rising rates of power, labour and raw material have hit their business the most. “To break even, we need to increase the rates of our products by more than 10%, yet we have only hiked the rates of plywood and plyboard by 7%,” Sohal said, adding that they have also informed all association members to not sell their products on long term credit limit.
The members of Punjab Plywood Manufacturers Association (PPMA) said the rates have come into effect since Thursday.
PPMA chairman Ashok Juneja said, “Due to inflationary trends, the cost of inputs and raw material like wood, chemicals and allied products used in manufacturing of plywood and plyboard has gone up by 10%. Since we are already facing slump along with high rate of tax under GST, we have been struggling to adjust the rates of our products in the required proportion. In order to cut down our losses, we have decided to hike the rates of our products by 7% with immediate effect.”
According to PPMA president Inderjit Singh Sohal, the rising rates of power, labour and raw material have hit their business the most. “To break even, we need to increase the rates of our products by more than 10%, yet we have only hiked the rates of plywood and plyboard by 7%,” Sohal said, adding that they have also informed all association members to not sell their products on long term credit limit.
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