UCPMA Meeting on Increase to Steel Price & E-Trip

UCPMA Meeting on Increase to Steel Price & E-Trip

Meeting regarding burning issue of bicycle industry on increases rate of steel & E-Way Bill in the market was held in UCPMA in conference hall under the leadership of S. Inderjit Singh Navyug (President of UCPMA) discussing on above issues.

Regarding steel prices S. Inderjit Singh Navyug told that today the price of basic steel gone up and with this increase the rate of steel, bicycle industry will be in big problem, it will be impossible to sell the goods in the market which will lead to the closure of many units in Ludhiana. It was discussed that when the price of iron-ore is cheaper in India then why there is a price increase. Why Government has imposed the MIP (Minimum Import Price) on steel. This is unfair of the government. The Steel Cartel has totally suppressed the central government and is blackmailing the Indian economy. Secondly, government going to implement E-trip on E-Way Bill in Punjab after to March-2018. E-Way bill means if any bill amount more than Rs.50000/- than government officials have the right for the check to bill at any place in the way and customer pay E-Trip to the government. UCPMA requested to the government for increases to the ratio of the amount in E-Way Bill on the place of Rs.50000/- to Rs.500000/-. MSME industry is already in big problem due to GST & Demonetization and now center Government is quiet.

Sh. Pardeep Wadhawan (Sr. Vice President of UCPMA) said it is time for the industry to get together and send representation to the central government including Prime Minister and finance minister. He said that will be arranged to Press conference in next meeting with taking along all the other associations regarding the undue increase in the steel prices. He said labor is running away and at present industry is working with 25% labor force. Sales have gone down due to low production. He said government make a cluster for discussion to the price of MIP and if required to increase the steel price than it should be only once a time in a whole year.

It was decided that in this scenario the bicycle industry is compelled to increase the price of Bicycle and its parts. It was decided that Price of the bicycle will be increased and there will be an increase of 10-12% in an increase of bicycle parts price and if there is increase further in raw material then the industry will further increase in same proportion.

Among present were Sh. Pardeep Wadhawan, S. Rajinder Singh Pappu, S. Rajinder Singh Sarhali, Sh. Achhru Ram Gupta etc.