The Hindu : National : Voluntary retirement scheme for trucks mooted

Online edition of India's National Newspaper
Thursday, Jun 10, 2004

National

National

Voluntary retirement scheme for trucks mooted

By Our Staff Reporter

CHENNAI, JUNE 9. With a view to modernising trucks in India, two apex transporters' associations have mooted a unique ``voluntary retirement scheme for trucks.''

According to a press release from the All-India Motor Transport Congress and the All-India Confederation of Goods Vehicles Owners Association, the scheme is the better way to modernise the ageing fleet in the country compared to the coercive steps such as banning trucks that are more than 15-years-old and above.

This alternative proposal insulates truckers against the drastic reduction in the value of the truck and saves enormous financial loss to the operator. In order to arrive at a credible opinion on the issue, these fora commissioned a truck modernisation project to suggest `a humane alternative approach.'

The project came out with a suggestion that a company, Special Purpose Vehicle (SPV), be formed to buy trucks that are more than 15-years-old, cancel their registration, sell them as scrap through auction and give the truck owner the amount realised from auction. The SPV, which would raise resources for the scheme from all the stakeholders of road goods transport industry, would disburse a predetermined amount as incentive to the seller of the old truck from out of the contributions, the release said.

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