YSRC demands immediate roll back of diesel price

Serving a warning that the economy may suddenly collapse with ever increasing diesel and petrol prices, YSR Congress today demanded an immediate roll back of the diesel price hike and withdrawal of cap on subsidized cooking gas supply to domestic consumers.

Addressing media persons at the party Central office in Hyderabad today, YSR Congress Political Affairs Committee member Somayajulu said the state government will get additional revenue of Rs.500 Cr through the capping of cooking gas supply and diesel price hike and asked the government to give it back to the people in the state in shape of subsidies.

Pointing out that the rate of crude has come down by $ 48 in the international market since 2008, he asked the government to explain as to how the diese

l price was increased in the country. “This situation has arisen due to the inefficiency of the state and central governments,” he

 said and demanded withdrawal of diesel price hike and removal of cap on supply of subsidized domestic cooking gas.

“The government decision will also adversely affect the middle class people and the decisions must be withdrawn,” he demanded, observing that policy paralysis and governance paralysis all along the four years have led to this distress.

“The Trade Deficit of the country has gone up from $ 20 billion in 2005 to $ 185 billion in 2012. The Current Account Deficit that deals with foreign exchange has gone upto 4.5% of GDP as against Current Account Surplus in 2008. As a result of these mishaps, the rupee has substantially devalued against USD, the parity having gone Rs 40 per USD in 2009 to Rs 60 per one USD in 2012. As a result, the landed prices of crude in rupee terms have gone up despite the international prices of petroleum coming down,” he said.

Speaking about the power crisis in the state, Somayajulu asked the government to provide a financial package to the industries which have suffered financially due to a drastic cut in power supply.

He demanded the government to ensure a full length discussion on the power crisis in the state in the assemlby and take an all party delegation to

 the Centre seeking an immediate solution to the power owes.

(Updated on Sept 14, 2012)