Bankruptcy looms over Belgian transport firms

16th June 2008, Comments 0 comments

The 20 percent increase of fuel since the beginning of 2008 has led to an acute shortage of cash among transport firms.

16 June 2008

BELGIUM - According to the transport federation UPTR, hundreds of transport firms are facing bankruptcy because of the high price of fuel.

Fuel prices have gone up 20 percent since the beginning of the year.

The UPTR, the union of professional transporters, says the fuel increase has affected the smaller companies especially. Many of them face an acute shortage of cash.

On Wednesday, transporters from all over the country will demonstrate in Brussels to protest against the high fuel prices and low purchasing power. Agricultural organisations from all over Belgium will also demonstrate on Wednesday in the capital.

The ABS Farmers' Union is threatening to paralyse the whole country if the government does not do something about the high price of fuel and the low price of produce and other agricultural products.

The ABS says it will give the government of Prime Minister Yves Leterme 10 days to come up with concrete measures, otherwise it paralyse the country with demonstrations at Zaventem at the Brussels International Airport, the ports and the railway.

[ / Expatica]

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