Financial Daily from THE HINDU group of publications
Thursday, Jun 17, 2004
Financial Daily from THE HINDU group of publications Thursday, Jun 17, 2004 |
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Industry & Economy
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Petroleum Kerala Chambers voice conern over hike in fuel prices Our Bureau
Kochi , June 16 THE petrol and diesel price hike will severely impact Kerala as the transportation cost of essential items and raw material for industries will go up, leading business chambers here have said. "Due to frequent power failures, which sometimes prolong for hours together, the industrial sector in general and especially the units requiring uninterrupted power supply to avoid deterioration of products such as processed seafoods and other such items, have no other alternative than to depend on generators. "This, coupled with increased transportation cost will reflect in the cost of production and will adversely affect the competitiveness of our products in the world market," said the Indian Chamber of Commerce and Industry in a statement. Even if a fuel price hike was inevitable, the Government should have thought of ways to reduce it, the Chamber said. According to the Kerala Chamber of Commerce and Industry, the people of Kerala will be the worst affected by the increase as Kerala is a consumer State and the sales tax on petroleum products are almost double here than in other States. The Chamber said the State Government should reduce the hardships of Keralites by withdrawing sales tax on these items.
More Stories on : Petroleum | Kerala
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