T-strike: Pvt Sector loosing Rs 300 Cr daily
Hyderabad, Sept 20 (INN): The private sector is suffering losses of nearly Rs 300 crore per day since the 'Sakula Janula Samme', the general strike, began in the Telangana region on September 13.
Federation of Andhra Pradesh Chambers of Commerce and Industry (FAPCCI) secretary general MV Rajeshwara Rao told INN that the daily production loss in the region was to the tune of nearly Rs 50 crore.
However, the total losses in the allied sectors would mount up to Rs 300 crore to Rs 350 crore on daily basis. The aggregate losses for the private sector due to the Telangana strike are now being estimated to be nearly Rs 3 lakh Crore.
The energy shortage, consequently leading to power cuts, being caused due to SCCL strike will directly hit the manufacturing sector in near future. Further, the exports from the region were also badly hit causing huge losses to SMEs.
The FAPCII says that the many companies located in the region were not getting new orders and their losses are bound to escalate in future. Thousands of daily wages employees are badly hit due to the on-going general strike.
Meanwhile, the RTC strike has affected the sales in Hyderabad markets, especially those dealing with the wedding material. "Our business is almost 70 per cent down due to the RTC strike. This is marriage season and we get lot of customers from neighbouring districts and also from Gulbarga and Bidar. But due to strike, the footfall has drastically come down," Mohammad Taher, a shop owner at Lad Bazar told INN.
According to shop keepers at Pathergatti and other markets in the Old City, shopping for wedding was badly affected due to the Telangana strike. Besides the non-availability of transport, women are afraid of coming out fearing disturbances in the city due to Telangana strike. "During the month of Holy Ramzan our sales were affected due to heavy rains and now are affected by the strikes," a shop keeper said.
Meanwhile, the FAPCII has appealed to the Centre and State to find out a solution to the Telangana issue soon so that the interests of the business community are safeguarded.
Hyderabad, Sept 20 (INN): The private sector is suffering losses of nearly Rs 300 crore per day since the 'Sakula Janula Samme', the general strike, began in the Telangana region on September 13.
Federation of Andhra Pradesh Chambers of Commerce and Industry (FAPCCI) secretary general MV Rajeshwara Rao told INN that the daily production loss in the region was to the tune of nearly Rs 50 crore.
However, the total losses in the allied sectors would mount up to Rs 300 crore to Rs 350 crore on daily basis. The aggregate losses for the private sector due to the Telangana strike are now being estimated to be nearly Rs 3 lakh Crore.
The energy shortage, consequently leading to power cuts, being caused due to SCCL strike will directly hit the manufacturing sector in near future. Further, the exports from the region were also badly hit causing huge losses to SMEs.
The FAPCII says that the many companies located in the region were not getting new orders and their losses are bound to escalate in future. Thousands of daily wages employees are badly hit due to the on-going general strike.
Meanwhile, the RTC strike has affected the sales in Hyderabad markets, especially those dealing with the wedding material. "Our business is almost 70 per cent down due to the RTC strike. This is marriage season and we get lot of customers from neighbouring districts and also from Gulbarga and Bidar. But due to strike, the footfall has drastically come down," Mohammad Taher, a shop owner at Lad Bazar told INN.
According to shop keepers at Pathergatti and other markets in the Old City, shopping for wedding was badly affected due to the Telangana strike. Besides the non-availability of transport, women are afraid of coming out fearing disturbances in the city due to Telangana strike. "During the month of Holy Ramzan our sales were affected due to heavy rains and now are affected by the strikes," a shop keeper said.
Meanwhile, the FAPCII has appealed to the Centre and State to find out a solution to the Telangana issue soon so that the interests of the business community are safeguarded.
News Posted: 20 September, 2011
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