CICU Suggested Govt. to introduce vehicle scrappage policy at earliest to boost India’s auto manufacturing

News Punjab

Ludhiana , July 9 – S. Upkar Singh Ahuja, President, and Sh. Pankaj Sharma, General Secretary, CICU in a press release, jointly said that the long-delayed and much-awaited vehicle scrappage policy should be introduced by the Govt. to boost India’s auto manufacturing. Due to lockdown, especially automobile industry is currently reeling under a big recession.

News Punjab

Sh. J.S Bhogal, Organizing Secretary, CICU addded that the vehicle scrappage policy will help the economy by reducing old polluting vehicles on Indian roads and looks at confining them to the scrapyard. With resale value of vehicles beyond 15 years being extremely low, these vehicles can be sent to scrapyards with some sort of monetary compensation to owners which could ensure two benefits – incentive for owners to get rid of such vehicles and putting these polluting vehicles out to help the environment.

These measures could be equally important benefits in such sector then going to the market for new vehicles, which could boost demand, and re-using/recycle the scrap materials like steel and aluminum for manufacturing new vehicles.it will help the steel industry with better availability of scrape similar is with Aluminum and plastics recycling industry

CICU requested Hon’ble Prime Minister of India and Hon’ble Minister of MSME to introduce vehicle scrappage policy to boost India’s auto manufacturing and allied industries .