AusRAIL, Market Sectors

Pass on costs or be ruined, VTA says

<p>The Victorian Transport Association has warned that transport companies must pass on the cost of extremely high fuel prices or fail.</p> <p>"In 20 years as head of the VTA, I cannot recall a more dire time for industry," chief executive Philip Lovel said yesterday (Monday, July 17).</p> <p>"This situation needs immediate attention from industry and we are urging companies to bite the bullet and apply fuel levies &#8211 or quite simply fall by the wayside."</p> <p>Mr Lovel pointed to the effects on market sentiment of international instability from Israel’s invasion of Lebanon and the Iranian and North Korean nuclear stand-offs.</p> <p>Added to this, were the problems facing Iraq, coupled with the threat of a bad hurricane season in the US Gulf, all posing huge challenges and unclear outcomes to the Australian economy.</p> <p>"We are calling on all operators not to attempt to shoulder this burden," Mr Lovel said. "Any operator still under the misapprehension that they can weather the storm are heading for disaster and financial ruin.&#8221 </p> <br />