Friday, 18 November 2016

Cash crunch affecting transport sector adversely

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Limits on cash withdrawal is impacting the transportation sector severely and the sector will continue to face hardship unless that is eased. As an example, he says if a transport company has an expense of Rs 25000 per truck for long-distance route, and say has 100 trucks, now because of withdrawal limits the company can operate only a few trucks, while others are lying idle. 

 

This is a very grave situation for them. He says, on the one side government’s move to curb parallel economy is very good but on the other hand it is going to bring in tremendous pain to some in the short-term. When asked about the impact of this on his company’s sales, he says that will be known only by end of the month.

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