US, Asian powers call for gradual end to subsidies
The US, Japan, China, India and South Korea called here on Saturday in a joint statement for a "gradual" end to fuel price subsidies despite a spike in crude oil costs.
By Agencies |
AOMORI: The US, Japan, China, India and South Korea called here on Saturday in a joint statement for a "gradual" end to fuel price subsidies despite a spike in crude oil costs.
"We recognise that, moving forward, phased and gradual withdrawal of price subsidies for conventional energies is desirable," officials from the five nations said in a joint statement after talks in Japan.
They said that subsidies "should be replaced wherever possible by better targeted policies for intended beneficiaries."
"We recognise that, moving forward, phased and gradual withdrawal of price subsidies for conventional energies is desirable," officials from the five nations said in a joint statement after talks in Japan.
They said that subsidies "should be replaced wherever possible by better targeted policies for intended beneficiaries."
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