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Coimbatore: Industry bodies ask State Govt to reduce fuel prices

By Team YourCoimbatore on 6th November 2021
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The Indian Chamber of Commerce and Industry has urged the state government to reduce the fuel price as done by many other state governments.

The Chamber President C. Balasubramanian said in a press release the Union Government has slashed fuel prices by reducing excise duties on petrol and diesel by Rs.5 and Rs. 10 a litre respectively. This will bring relief to consumers and is expected to spur the overall economic cycle. It will also help farmers with the rabi crop, ease inflation and give a boost to consumption. States such as Gujarat, Assam, Tripura and Goa have assured a further cut in fuel prices, the Tamilnadu Government should also come forward to reduce the prices of diesel and petrol. If it happens it will benefit all sectors across the state, he said.

Tirupur Exporters and Manufacturers Association president MP 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.

Besides the cost of fuel, the Industry bodies expect the govt should take steps to regulate the uncertain nature of the cost of raw materials which help the small scale industries in Coimbatore.


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