The Centre’s decision to hike the prices of petrol and diesel by Rs 4 and Rs 2 per litre, respectively, does not seem to have gone down well with industrialists in the city.

With the onset of monsoons, the power demand for the farm sector has decreased and the schedule for power cuts has also been revised, decreasing the duration of cuts and bringing some relief for residents.

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.”

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