South Asia battles fuel crunch amid Iran war fallout
South Asian nations are taking action to combat an energy crisis. Countries like India, Pakistan, Bangladesh, Nepal, Sri Lanka, and Maldives are introducing various measures. These include fuel price adjustments, reduced consumption, and shifts to...
Here is a look at some of the measures rolled out so far.
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INDIA
* The government slashed excise duties on petrol and diesel. * Windfall taxes imposed on aviation fuel and dieselexports. * Emergency measures invoked to divert gas supplies fromnon-priority sectors to key users. * Oil refiners directed to increase production of liquefiedpetroleum gas.PAKISTAN
* Government departments given 50% cut in fuel allowancesfor two months. * Work week shortened to four days for government offices. * All offices to operate with 50% staff physically present. * Pakistan Super League, a franchise-based Twenty20 cricketleague, moved behind closed doors.BANGLADESH
* Offices and banks operate for seven hours, shopping mallsto close by 7 p.m. * Offices to cut power consumption, including by avoidingexcessive lighting. * Ban on decorative lighting at events. * Reduction in fuel and energy use in public offices,restrictions on non-essential travel.Also Read: A $19.50 oil premium: Saudi Arabia sets record crude price as Hormuz crisis rattles markets
NEPAL
* One-day weekly holiday in schools and government officesextended to two days. * Government to make "legal arrangements" to convert petroland diesel vehicles to electric vehicles. * Price of aviation fuel more than doubled to avoid supplydisruption. * Petrol and diesel prices raised. * Cooking gas rationing in force.SRI LANKA
* Wednesday declared a public holiday to help fuel suppliesgo further. * Train and bus services reduced. * Power tariffs raised for households and industries.MALDIVES
* Seeking fuel supply from India. * Fuel prices raised to maintain supply.The Economic Times News App for Quarterly Results, Latest News in ITR, Business, Share Market, Live Sensex News & More.