Online edition of India's National Newspaper
Saturday, Jan 13, 2007
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Online edition of India's National Newspaper Saturday, Jan 13, 2007 ePaper |
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Karnataka
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Bangalore
Staff Reporter
BANGALORE: About six lakh goods trucks across the State will stop moving from January 19. Launching an indefinite strike from that day, the Federation of Goods Truck Associations will register its protest at the increase in third party insurance premium by 150 per cent for commercial vehicles.
A blow to lorry owners
The Insurance Regulatory Development Authority (IRDA)'s decision to increase the premium would be another blow to the truck operators, who were already reeling under the harassment of the police and Regional Transport Officials, the federation office-bearers told presspersons here on Friday. Except vehicles carrying milk, medicines, water and vegetables, no other trucks would be allowed to take load during the strike, they said. The insurance premium was about Rs. 1,300 in 1998 and rose to Rs. 3,000 in 2002. With the latest increase, this would touch Rs. 10,000. "How will we pay that amount? Even the vehicle valuation will not fetch that kind of money."
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