FICO opposed massive hike in oil prices 

Ludhiana, October 18, 2021: Federation of Industrial & Commercial Organization, popularly known as FICO strongly opposed the massive hike in petrol & diesel prices & demanded the Minister of Petroleum, the Centre Government the State Government for immediate rollback, by a reduction in taxes. FICO further demanded to bring the Petrol & Diesel under GST Regime. 

Mr. K.K. Seth Chairman FICO & Mr. Manjinder Singh Sachdeva Senior Vice President FICO said that the consecutive increases in the prices of petrol and diesel, being affected by the government may only be termed as insensitive measures in these difficult times. The prices of Petrol crossed the mark of Rs.107.50 per litre & Prices of Diesel crossed the mark of Rs.97.30 per litre, Fuel prices are being increased relentlessly & government should immediately roll back the hike. 

Mr. Gurmeet Singh Kular President & Rajeev Jain General Secretary FICO said that the government should be trying to increase liquidity in the market rather than increasing the prices of Fuels in the country, this increase in the price of fuels will only spark inflation. It is high time that the government should curb the ever-increasing prices of petrol and diesel, otherwise, the already down economy of the country will fall further.