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Our Correspondent

Madurai , April 11

THE Madurai District Furniture Manufacturers Association has urged the Government to protect the steel furniture industry from the threat of closure due to steep hike in prices of raw materials.

The association President, Mr D. Dhanuskodi, said in a statement that the prices of steel plates and pipes had increased from Rs 22,000 per tonne to Rs 40,000. The prices of other materials required for the industry have also increased. In addition, a levy of 12 per cent sales tax and a surcharge of 5 per cent are to be added. The small and medium scale steel industries, as a result, are on the verge of closure. If unchecked, the situation would result in thousands of employees in the industry, being rendered jobless, he warned.

More Stories on : Steel | Office Equipments & Supplies | Tamil Nadu

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