Bengaluru: Truck associations today decided to call off their strike after the insurance regulator agreed to reduce the third party insurance premium of vehicles to 27 per cent from the planned 50 per cent, a goods vehicles owners body said.

“We had a meeting with IRDAI (Insurance Regulatory and Development Authority of India (IRDAI) today. They have now reduced it to 27 per cent,” All India Confederation of Goods Vehicles Owners’ Association President Channa Reddy told PTI over phone from Hyderabad, where the talks were held.

The truck associations have been on strike in the south since March 30, affecting supply of essential items. They had announced that the protest would be intensified from tonight across the nation if there was no solution. Reddy said, “First they had said 50 per cent… opposing it we had called the strike. Then they said 41 per cent. Now they have come to 27 per cent. So we have called off the strike and operations will resume normally.” The first round of talks on April 3 had failed. Earlier, the associations had said that they had got support from across the country. – PTI