Mysura demands roll back of disel price hike

Hyderabad, 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.