Countries across South Asia, which is home to a fifth of the world’s population, are facing an energy crisis worsened by the ongoing US-Israeli war on Iran. This conflict has significantly disrupted oil supplies and driven up fuel prices, compelling governments in the region to take swift action, reports Reuters.
India
In India, the government has responded by slashing excise duties on petrol and diesel, while also imposing windfall taxes on aviation fuel and diesel exports. Emergency measures have been enacted to redirect gas supplies from non-priority sectors to key industries, and oil refiners have been instructed to ramp up production of liquefied petroleum gas (LPG).
Pakistan
Pakistan has taken several steps to reduce fuel consumption, including cutting government departments’ fuel allowances by 50 per cent for two months. The country has also shortened the workweek to four days for government offices, with a requirement for only 50 per cent of the staff to be physically present. In addition, the popular Pakistan Super League (PSL) cricket tournament has been moved behind closed doors to conserve energy.
Bangladesh
Bangladesh has introduced measures to cut back on energy usage in both the public and private sectors. Offices and banks now operate for just seven hours a day, and shopping malls are required to close by 7pm. Additionally, government offices have been instructed to limit power consumption, avoid excessive lighting, and restrict non-essential travel. A ban has also been imposed on decorative lighting at events.
Nepal
In Nepal, the government has extended the weekly holiday for schools and government offices to two days in a bid to reduce energy demand. The government is also taking steps to promote the conversion of petrol and diesel vehicles to electric vehicles. To prevent supply disruptions, the price of aviation fuel has been more than doubled, and both petrol and diesel prices have increased. In addition, cooking gas is now subject to rationing.
Sri Lanka
Sri Lanka has declared Wednesday a public holiday to help stretch fuel supplies further, while reducing train and bus services to conserve energy. The government has also raised power tariffs for both households and industries as part of its energy-saving strategy.
Maldives
In the Maldives, the government has sought fuel supplies from India and has raised fuel prices to maintain a stable supply.
These measures across South Asia reflect the urgency with which governments are addressing the energy crisis, which is placing significant strain on already struggling economies.
As the region navigates these challenges, these steps are critical to ensuring a steady fuel supply and minimizing the economic impact on essential sectors.
