South Asia Implements Measures to Combat Fuel Crisis Amid Iran Conflict
South Asia battles fuel crunch amid Iran war fallout
The Economic TimesImage: The Economic Times
In response to the energy crisis caused by the U.S.-Israeli war on Iran, South Asian countries are adopting various measures to manage fuel shortages and rising prices. These include tax cuts, reduced work weeks, and restrictions on energy use across the region.
- 01India has slashed excise duties on fuel and redirected gas supplies to key users.
- 02Pakistan has reduced government fuel allowances and shortened the work week.
- 03Bangladesh has implemented energy-saving measures and restricted shopping hours.
- 04Nepal has increased fuel prices and extended school holidays to conserve energy.
- 05Sri Lanka declared a public holiday to manage fuel supplies more effectively.
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Countries in South Asia, which are home to a significant portion of the world's population, are grappling with an energy crisis exacerbated by the ongoing U.S.-Israeli war on Iran. In India, the government has responded by slashing excise duties on petrol and diesel, imposing windfall taxes on aviation fuel and diesel exports, and redirecting gas supplies to key sectors. Pakistan has implemented a 50% cut in fuel allowances for government departments and shortened the work week to four days to reduce fuel consumption. Bangladesh has restricted office hours and shopping mall operations, while also banning decorative lighting. Nepal has raised petrol and diesel prices and doubled the price of aviation fuel to avoid supply disruptions. Sri Lanka declared a public holiday to extend fuel supplies and reduced public transport services. Meanwhile, the Maldives is seeking fuel supplies from India and has raised fuel prices to maintain availability.
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These measures aim to alleviate the burden of rising fuel prices on citizens and ensure essential services continue to operate amid shortages.
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