The Indian Chamber of Commerce and Industry (ICCI), Coimbatore has criticised the decision to go in for a steep raise in prices of petrol. It said this would lead to a chain reaction and take the Indian economy from a bad to worse situation.

President of ICCI M. Krishnan said that the raise in price of petrol has been allowed by the UPA Government despite opposition from the constituents of the United Progressive Alliance Government at the Centre leave alone the Opposition parties.

This would hurt the entire industrial sector, which was already in the grip of a slump. The automobile industry would be worst-hit. Mr. Krishnan said that it was a great disaster. Since energy prices were already at unreasonably high levels, the present raise in prices of petrol would lead to higher industrial production costs of basic materials, essential commodities, and consumer goods. This would also lead to high demand for diesel vehicles.

He said the government should be transparent in the manner in which prices of petroleum products.

President of the Indu Makkal Katch - Tamil Nadu (IMK) Arjun Sampath condemned the raise in prices of petrol.

The manner in which the price was raised – immediately after the Parliament session concluded – shows the anti-people stance of the ruling UPA Government.

If international prices were the reason for the raise, why Pakistan or the USA has not increased the prices, he asked.

The party activists would march to the office of the Indian Oil Corporation on Avanashi Road on Friday, said Sundarapuram Jai of the IMK.

The All India Youth Federation attempted in vain to block road near the Radhakrishna Mills on Avanashi Road. The police removed all the agitators immediately. At Singanallur, the police foiled an attempt by the Bharathia Janata Party to burn Prime Minister Manmohan Singh in effigy.

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