Coimbatore: Members of the Federation of Coimbatore Industrial Association protested in front of the south taluk office here on Tuesday, urging the Union government to take necessary steps to control the price hike of raw materials.
Speaking to reporters, J James, coordinator of the association, said industrialists had been, of late, facing problems one after another. “After the outbreak of Covid-19 pandemic, it is only now we are trying to beef up our production. Increase in the price of raw materials by 30% to 140% has come as a big blow to us. The Centre hasn’t taken any steps to control the price hike so far.”
If the government continued to remain silent, he said industries wouldn’t be in a position to continue their production.
“To control the “abnormal” price rise of raw materials, a price monitoring committee should be formed with representatives of micro, small and medium enterprises as its members. The committee should fix a cap on the price of raw materials. The government should also bring the Goods and Service Tax (GST) on raw materials to 5% from 18%-28%. It should also announce a separate loan scheme for those who are doing job works,” he said.
Meanwhile, members of the Coimbatore, Tirupur Districts Micro and Cottage Entrepreneurs Association would down their shutters on Wednesday in support of the foundries that are stopping production indefinitely to protest the price hike of raw materials.