Secondary steel makers today announced withdrawing their week-long strike against e-TRIP system after getting an assurance from Punjab Industry Minister Anil Joshi over withdrawal of the new system.

A delegation of steel makers today met Punjab Industry minister Anil Joshi and Punjab BJP chief Ashwani Sharma here press for withdrawal of the new system of e-TRIP (Transportation Information Within Punjab).

"We were assured by the Industry minister Anil Joshi and BJP chief Ashwani Sharma that they will make serious efforts to get e-TRIP be rolled back add a meeting will be arranged with between them and Punjab Deputy Chief Minister Sukhbir Singh Badal to resolve their grievances," All India Steel Re-rolling Association President Vinod Vashisht told PTI.

"We will withdraw our agitation against the state government after the assurance given by the Industry minister," said Mandi Gobindgarh based steel maker Mohinder Gupta.

Over 600 induction furnaces and rolling mills have been on strike for the past one week, causing huge production as well as revenue loss to the state government.

With an objective of tax evasion, Punjab Excise and Taxation department has made e-TRIP system mandatory from August 10 whereby steel makers to provide details about information on intrastate movement of goods over Rs 2 lakh to the department through e-TRIP system.

Thereafter, a receipt will be generated which will be enclosed along with the consignment of goods, otherwise business transaction will be declared illegal.

Industry apprehended the business transactions could be severely affected whenever the department?s online system developed any technical snag.

Moreover, there is a threat of misuse of transaction data by anybody as the whole system is not foolproof, they alleged.

They also said that majority of small and medium enterprises do not have computers and internet and expertise to carry out online transactions.