Truckers and bus operators in Maharashtra on Saturday withdrew their indefinite strike after the insurance regulator agreed to reduce the third-party insurance premium for commercial vehicles from 50% to 27%.
The Insurance Regulatory and Development Authority (IRDA) will also form a committee to decide on insurance premiums and other issues. It will have representatives from transporter fraternity and the ministry of road transport and highways (MoRTH).
Transporter sources said two separate meetings were held between their representatives and IRDA and MoRTH officials in New Delhi and Hyderabad. After hours of deliberations, All-India Motor Transport Congress (AIMTC) called off the strike.
“The major demand of transport fraternity for a reduction in the proposed 50% hike in the third party premium has been accepted,”read the statement issued by AIMTC. It further highlighted that IRDA had agreed to form a consultative committee comprising MORTH officials and five AIMTC members
Transporters had threatened a nationwide strike from midnight of April 8. Maharashtra Rajya Truck Tempo Tankers Bus Vahatuk Mahasangh, the largest body of transporters in the state, had also supported the strike. Bus operators were to join them on April 10. Transporters had also threatened stop supply of essential commodities.