Commercial vehicles strike from Jan 25

NEW DELHI: All India Confederation of Goods Vehicle Owners' Associations (ACOGOA) on Friday said all commercial vehicles will stop operating from January 25 to protest the increased premium rates for third party motor insurance.

"All commercial vehicles, including trucks, tankers, buses and taxis shall be off the roads indefinitely from January 25 till the arbitrary ad hoc increase in premium rates announced by Insurance Regulatory and Development Authority (IRDA) for third party motor insurance is withdrawn," ACOGOA President B Channa Reddy said in a statement.

The increase in premium rates is effective from January 1, 2007.

Reddy said the Chamber would also make an appeal to the government as well as IRDA to withhold the ad hoc premium hike and review its decision.