Financial Daily from THE HINDU group of publications
Thursday, Feb 16, 2006
Financial Daily from THE HINDU group of publications Thursday, Feb 16, 2006 |
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Industry & Economy
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Industry Associations Logistics - Supply Chain Management AP Chamber flays move to restrict courier service Our Bureau
Hyderabad , Feb. 15 THE move to restrict courier companies from carrying letters weighing less than 500 gm came in for sharp criticism from the trade and business chambers in the State. The Federation of Andhra Pradesh Chambers of Commerce and Industry (FAPCCI), which represents a number of district level trade and business chambers, felt that amendment would adversely affect the operations of the entire courier industry since most of the letters accepted and carried by them weighed less than 500 gm. In a press release issued here on Wednesday, Mr C.V. Atchut Rao, President of FAPCCI, said the Rs 5,000-crore courier industry, comprising of 2,500 big and small units, contributed about Rs 450 crore annually as service tax to the Government. Besides, an equal amount was being paid as income tax and other taxes. Moreover, it provided employment to 15 lakh people."Restricting the operations of courier companies will be a retrograde step," he said. He contested the claim that the move was warranted keeping in mind the mounting losses of the postal department. He said the losses could be attributed to the outdated system followed by the department and lack of sufficient arrangements for sale of postal stationery.
More Stories on : Industry Associations | Supply Chain Management | Andhra Pradesh
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