Truckers end strike as IRDAI agrees to cut premium

The nine-day strike by truckers was called off on Saturday after the Insurance Regulatory and Development Authority of India (IRDAI) agreed to cut the third-party insurance premium by 23%.

The South Zone Motor Transporters’ Welfare Association (SZMTWA) and the All India Motor Transport Congress (AIMTC) held talks with officials of the IRDAI in Hyderabad, and simultaneously, with the Ministry of Road Transport and Highways and the Ministry of Finance in New Delhi.

The IRDAI also agreed to form a consultative committee for discussing transport-related issues, with representation from the two associations.

A press note issued by SZMTWA said that the discussion in Hyderabad with IRDAI officials lasted for more than six hours. General secretary of the association G R Shanmugappa,  president Gopal Naidu and vice president Mukesh M Shah took part in the deliberation. The association thanked truckers and other associations for the success of their strike and the Central and state governments for their cooperation.