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Two day strike would cost Rs25,000 crore loss

New Delhi, Feb 19 (): The two day strike call by central trade unions starting tonight will create Rs25,000 crore loss to the industry says ASSOCHAM. Right and left wing trade unions are uniting for the strike to protest against the new fuel pricing policy and the new labour laws that favour the corporates. Nationalized banks employees are protesting against the RBI move to give license to corporate s to start banks.
The talks led by CITU leader A K Padmanabhan with A K Antony and three ministers failed. Finance Minister P Chidambaram did not take part. The unions said that the strike would be a huge success. CII, ASSOCHAM felt that the timing of the strike was wrong because the economy was badly hit. Growth in all sectors had hit a decade low and industry was struggling to get back. Federation of Indian Chambers of Commerce and Industry appealed to the unions to not strike since it would not serve the purpose. The body said that various issues raised by the unions were being looked into by the Government at various levels. Banking employees grouse is that corporates who account for 50% of bad loans would now enter the banking sector.
Sriperumabadur near Chennai is expected to be hit and PSU’s, Port and freight transport in the State too would be affected. Left controlled unions in state transport and auto rickshaws would keep off the road. AIADMK led State Government has not yet announced their stance to the strike while PMK led union in State Government run TASMAC that sells liquor had said it would join the protest. West Bengal Chief Minister Mamata Banerjee has said that the two day strike will have no impact in her State and offered compensation to the shopkeepers if they suffered any damages from striking workers. In Kerala the public life will be paralyzed since the Left unions and Congress INTUC are together in the strike. Karnataka too would be hit since BJP unions are also striking.