Striking traders suffer Rs 500 crore losses per day

May 05, 2013, 05:32 IST | Varun Singh

The loss, estimated by the FRTWA, will not prevent traders from continuing their strike against LBT

Mumbai’s wholesalers and retailers have been bearing an estimated loss of Rs 500 crore every day because of their strike against the state government’s application of the Local Body Tax (LBT).

Retail shops across the city, supporting the Federation of Associations of Maharashtra (FAM) protest against the LBT, kept their shutters down yesterday. Pic/Sayed Sameer Abedi

Viren Shah, president, Federation of Retailers Traders Welfare Association, said, “Our losses run into almost Rs 500 crore per day. When the shopkeepers join us, it will increase. We know we are suffering losses, but it’s our fight for existence.”

The strike that started last month is likely to continue for several days more. “We will continue indefinitely,” said Shah. Meanwhile, according to BMC sources, the municipal corporation is still carrying out studies and a meeting has been held with regards to LBT. There seems to be no change in the plan, yet LBT shall be implemented from October 1. 

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