Mysura demands roll back of disel price hike

, January 19: Describing the Centre’s decision of increasing diesel prices as lack of foresight, YSR Congress has demanded an immediate roll back of fares and focus on infusing efficiency into the functioning of oil companies.

“Instead of looking into the performance of oil companies and plugging the loopholes the Centre has been trekking the easy path of passing on the burden to consumers by increasing the prices of gas, power and petroleum products,” party CGC member Dr MV Mysoora Reddy told reporters here on Saturday.

The hike in diesel prices will have a cascading effect and RTC charges will now be increased burdening the common man. The Mamohan Singh–led UPA has been time and again increasing oil prices in the name of under-recoveries without going into the roots of the problem and regulating the oil companies’ functioning nor looking at the subsidy angle, he said.

Lack of clarity and foresight along with inefficiency of the Centre has been causing the hike in petroleum prices, he said and demanded that the UPA government should take long-standing measures to check the frequent price rise besides rolling back the diesel prices.

We condemn the hike in diesel charges and demand that oil companies need to be regulated to get better financial results, he said.

The argument of increasing prices to have international parity does not break any ice as the GDP of developed countries like USA and UK is far higher than that of developing countries like India. “Then why should they seek equality in prices only,” he said.