Increased diesel price comes as another blow to industry

The industrialists had also breathed a sigh of relief hoping to save on the exorbitant amounts they spend on running diesel gensets. The hike in fuel prices has now dashed their hopes.

The Punjab State Electricity Board,in a review meeting of the power situation on Thursday,quashed its earlier orders ordering the furnace industry to close down for a week. It has now decided to provide power supply of 12 hours daily to the sector.

Even other industrial units that were forced to shut down for three days in a week also have some reason to cheer. As per the new orders,power cuts will be imposed only for two days.

The industrialists feel that this relaxation,however,has been nullified due to the increase in prices of fuel.

Industrailist Jeevan Kumar Kishore,says: “The hike in fuel prices was uncalled for. We are the ones who are always affected. The power situation had shown some improvement over the last two days and we thought we were heading for better days ahead but this fuel price hike has done us in again. Now,the prices of raw material will also rise as transportation costs will skyrocket.”

Owner of Mahindra Hosiery Ankit Arora echoed the sentiments. “I have spent around Rs 45,000 on diesel in June alone and now that we were facing reduced power cuts,I thought the input cost will reduce but it doesn’t seem likely,” he said.

A majority of the industries in the city have to depend on generators to keep their business going and meet the demand for exports.

Ashok Sachdeva,general secretary of Ludhiana Petrol Dealers’ Association,said the demand for diesel in the city this season had registered a manifold increase and nearly 25 per cent of the petrol pumps ran dry at most times.