the high low pressure oval switch is about Rs 2300/- for a genuine one, its a very good safety device for the AC unit, the low pressure cuts out the compressor when gas pressure is too low as low gas means low circulation which means low oil circulation too - low oil will kill the compressor.
The high pressure switch can be rigged with a cut off relay to engage the fans full speed whenever the compressor is running - this is only done when you are not able to locate such a switch as a spare part.
But I am sure you can get it quite easily so dont skimp on it. When everything works original it will work properly.