Raising a hue and cry over rising inflation and unprecedented rise in prices of steel, nickel and other raw material, members of different industrial associations started an indefinite protest against the Bhartiya Janata Party (BJP) led Union government outside the office of United Cycle and Parts Manufacturers Association (UCPMA) on Tuesday. They demanded the formation of a regulatory commission at the national level to bring down the prices.
With the assembly elections scheduled for next year, the industrialists carried placards and raised the slogans stating that they will only vote for the party which fulfils their demand. They stated that an hour-long protest will be staged outside the UCPMA office everyday till their demand is met.
Representatives of industrial associations including UCPMA, Federation of Industrial and Commercial Organisation (FICO), Bicycle Research and Development Organisation (BRADO) and Sewing Machine Association participated in the protest.
The industrialists stated that the prices of steel have increased by around 35% in the last two months and the skyrocketing prices of fuel and other raw materials have taken a toll on the sector.
Former president of UCPMA Charanjit Vishwakarma and FICO president Gurmeet Kular stated that the industry, especially the MSME sector, will not be able to survive the frequent and unprecedented rise in prices. The industry has been demanding formation of a regulatory commission for a long time, but to no avail, they added.