LUDHIANA: Worried over the ever increasing charges of the uncooked subject matter used in making steel, the cycle parts manufacturers of the city organised a gathering at administrative center of Federation of Industrial and Commercial Organisation (FICO) on Sunday. During the meeting, the manufacturers unanimously made up our minds to hike the charges of the chain through Rs 25 consistent with kilogram to Rs 110 consistent with kilogram. The manufacturers have additionally made up our minds that they will now not give greater than 30 days of credit score to their consumers and all of the manufacturers will abide through the verdict taken within the meeting.
Giving more details about the latest construction, Gurmeet Kular, president of FICO, mentioned, “In the previous few months, the charges of various uncooked subject matter have risen through over 45% which is growing huge issues for the bicycle parts’ manufacturers. Cost of particular uncooked subject matter which is used for production bicycle chains has risen so sharply that the chain production factories are at the verge of being close down because of mounting of losses. In order to save the industry we known as for meeting of all of the chain manufacturers related to FICO and a consensus was once made that from these days onwards all of the manufacturers will sell the chains at now not less than Rs 100 consistent with kilogram which is Rs 25 greater than previous charges. This has been performed so that no businessman faces losses and in addition they stop competing among themselves through lowering the charges.”
According to Kuljeet Singh, member of FICO, “The meeting was once very fruitful as everybody agreed to abide through the decisions taken within the meeting. We have close to 40 such members who're into the trade of producing bicycle chains and in addition to solving the charges at Rs 110 consistent with kilogram they have additionally made up our minds to not give credit score past 30 days to their consumers.”
Giving more details about the latest construction, Gurmeet Kular, president of FICO, mentioned, “In the previous few months, the charges of various uncooked subject matter have risen through over 45% which is growing huge issues for the bicycle parts’ manufacturers. Cost of particular uncooked subject matter which is used for production bicycle chains has risen so sharply that the chain production factories are at the verge of being close down because of mounting of losses. In order to save the industry we known as for meeting of all of the chain manufacturers related to FICO and a consensus was once made that from these days onwards all of the manufacturers will sell the chains at now not less than Rs 100 consistent with kilogram which is Rs 25 greater than previous charges. This has been performed so that no businessman faces losses and in addition they stop competing among themselves through lowering the charges.”
According to Kuljeet Singh, member of FICO, “The meeting was once very fruitful as everybody agreed to abide through the decisions taken within the meeting. We have close to 40 such members who're into the trade of producing bicycle chains and in addition to solving the charges at Rs 110 consistent with kilogram they have additionally made up our minds to not give credit score past 30 days to their consumers.”
Bicycle chain manufacturers hike prices by Rs 25 per kg
![Bicycle chain manufacturers hike prices by Rs 25 per kg]()
Reviewed by Kailash
on
June 25, 2018
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