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Mills association flays diesel price hike
Ajit Kumar V
Coimbatore: Southern India Mills' Association (Sima) has appealed to the Centre to withdraw the steep hike in diesel prices announced last week. According to the association, the 40-per cent hike in diesel prices would further burden the already recession-hit industry. The spinning industry is dependent on HSD for captive generation of power. The increase in the fuel's price would also result in considerable hike in transportation of cotton from upcountry markets to South and that of yarn from here to markets like Ichalkaranji, Malegaon and Bhiwandi.Sima vice-chairman, Vijay Venkataswamy, said now with the hike, a spinning mill with 25,000 spindles capacity may have to incur an additional burden of Rs 8-9 lakh a month. Copyright © 1999 Indian Express Newspapers (Bombay) Ltd.
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