Ford Ikon - Oil light is glowing in the dashboard

Possibly, but that is not an appropriate response until the cause is diagnosed. Failure of the oil pressure sending unit is pretty common, and can cause a flickering oil pressure warning light, or the light could turn on at lower engine speeds or when the engine is fully-warmed up and the oil is thinner.

The first thing that should be done is to measure the actual oil pressure with a mechanical pressure gauge. If the pressure is okay, replace the sending unit. Many people will just replace the sending unit first because that costs less than getting the mechanic involved. If the problem is still there, THEN get the mechanic involved.

If the oil pressure really is low, by far the most common cause is worn engine bearings. If that is caught right away, you might get away with just installing new bearings. The problem is most mechanics won't be willing to do that because they know there will be additional worn parts that will not be obvious right away but will cause more problems in the near future, and you're going to incorrectly blame him for that.

Of course this all assumes the oil LEVEL is okay. Have you checked the level? If it is low enough, the oil pump will suck up air instead of oil. Since air can be compressed, the pump won't be able to build proper oil pressure, and that's when parts become damaged.