Industry bodies ask state govt also to cut fuel prices further

Coimbatore: Welcoming the Union government’s move to slash prices of petrol and diesel by reducing excise duty, industry representatives have urged the state government to take steps to bring down the prices further.
The cut in fuel prices will offer relief to consumers and spur economic growth, president of the local chapter of the Indian Chamber of Commerce and Industry C Balasubramanian said. “This will help farmers cultivating rabi crops, ease inflation and boost consumption. States like Gujarat, Assam, Tripura and Goa also promised price cut and Karnataka announced petrol price cut by Rs 12 and diesel by Rs 17, besides Uttar Pradesh, which has announced a tax cut of Rs 7 per litre on petrol and Rs 2 per litre on diesel. The Tamil Nadu government should also come forward to reduce the prices,” he said.
Tirupur Exporters and Manufacturers Association (Teama) president M P Muthurathinam said fuel price rise impacts the cost in every stage of production, besides transportation. “Most of the export units are operating with generators during power cuts, which add up to their fuel costs. The state government should look in to the possibility of bringing down fuel prices further as it did a few weeks ago. Bangladesh remains competitive to Indian textiles in the international market and fuel price rise has been making it difficult to keep the cost under control,” he said.
Besides the cost of fuel, the Centre should also take steps to regulate the uncertain nature of the cost of raw materials, said president, Coimbatore District Small Scale Industries Association M V Ramesh Babu. tnn