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PHDCCI demands reconsideration of hike in electricity duty, road tax 8/2/2019 9:59:20 PM Early Times Report JAMMU, Aug 2: PHDCCI Jammu Regional Committee has unanimously resolved to ask the state government to reconsider its decision for hike in electricity duty from the current 10% to 15% with effect from August 1. Speaking in a meeting of PHDCCI held here today, Vikrant Kuthiala, Regional Chairman stated that this hike would impact each and every consumer of the state and was unwarranted and uncalled for in the context of the current economic situation where the national economy is on a contraction and its impact on the economy of the state is maximum. This hike would adversely impact the industrial sector, the commercial sector, the tourism sector and the households. Tourism & Service sector would be impacted the most as they have already been hit by GST from which they were earlier exempted. Rakesh Wazir Co-Chair observed that the tourism sector would be hit by high power cost when it is struggling for its survival and is already impacted by the high rate of GST and low inflow of tourist traffic in the state. Kuldeep Gupta, Co-Chair stated that the impact on the industrial sector would be adverse and would put the already stressed sector under further financial strain. Sanjay Aggarwal was of the view that the automobile was already facing a drop in demand as seen in the decline in automobile sales over the past few months. The increase in road tax would further increase the cost of vehicles to consumers and would lead to further reduction in sales. He further suggested that the implementation of these notifications should be deferred, this will help dealership liquidate the huge inventory which has piled up due to slow down in automobile trade. Rahul Sahai stressed upon the urgency in getting both these decisions reviewed and rolled back before irreparable damage is caused to the various sectors and stakeholders in the state. It was decided to approach the government to relook at both these decisions.   Share This News with Your Friends on Social Network     Comment on this Story

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