After the US-Israeli attack, Iran imposed a blockade on the Strait of Hormuz, due to which ships carrying oil and LPG were left stranded in the Persian and Gulf of Oman. Although Iran is allowing the ships of friendly countries one by one to pass through Hormuz, a huge oil crisis has arisen in South Asia. One-fifth of the world’s population lives in this region. Due to this war, there has been a decrease in supply, due to which the prices of oil have increased. Let us know what steps were taken by countries like India-Pakistan to Sri Lanka-Maldives to deal with this crisis?
What actions did India take?
-Government drastically reduced excise duty on petrol and diesel.
-Wind profit tax imposed on aviation fuel and diesel exports.
-Emergency measures implemented to divert gas supplies from non-priority sectors to major users.
-Instructed oil refineries to increase production of LPG.
What did Pakistan do?
-Fuel allowance of government departments has been reduced by 50% for two months.
-Working days in government offices were reduced from six to four days.
-All offices will work with the presence of 50% employees.
-Franchise based T-20 cricket league, Pakistan Super League, will be played behind closed doors.
What steps did Bangladesh take?
-Offices and banks will remain open for seven hours, shopping malls will close by 7 pm.
-Offices will have to reduce electricity consumption, which also includes avoiding excessive lighting.
-Ban on decorative lights at events.
-Reduction in fuel and energy use in government offices, ban on non-essential travel.
Nepal government took strict steps
-One day weekly holiday in schools and government offices has been increased to two days.
-The government will make ‘legal arrangements’ to convert petrol and diesel vehicles into electric vehicles.
-To avoid supply disruption, the price of aviation fuel has been increased more than double.
-The prices of petrol and diesel were increased.
-Rationing of cooking gas is in force.
What steps did Sri Lanka take?
-Wednesday was declared a public holiday to increase the money supply.
-Train and bus services were reduced.
-Electricity rates for homes and industries were increased.
Maldives also increased the price of oil
-Is demanding fuel supply from India.
-Fuel prices were increased to maintain supply.