The Jammu and Kashmir Unit of CPI(M) today flayed the Centre for hiking petrol prices, saying the move will have a cascading effect on all commodities and hit the interests of the poor and lower middle class.
"The highest ever price hike shows that the central government is not concerned about the common man but the interests of oil companies," state Secretary of CPI(M) Mohammad Yousuf Tarigami said in a statement here.
He said the deregulation of petrol prices would continue the price hike phenomenon, which has been hitting the common man, who is already reeling under high inflation.
The food inflation and depreciation of rupee have already worsened the economic condition of people and the hike in petrol prices would add to it, Tarigami said.
"Justifications by the government that depreciation of rupee, losses to oil companies and a jump in the oil import bill have necessitated the price hike are unreasonable and unrealistic," he said.
He said decontrolling of the petroleum products has been the anti-people policy of the UPA, letting the oil companies make hikes as per their will and neglecting the interests of the common man.
Tarigami said the CPI(M) demands immediate roll back of price hike and regulation of the government-run oil companies to ensure minimum hikes in petroleum products whenever the same is necessitated.