Japan's Kishida unveils plan for new steps to combat rising fuel costs

JAPANESE Prime Minister Fumio Kishida on Tuesday (Aug 22) unveiled a plan to compile in September fresh measures to cushion the blow to the economy from rising fuel prices.

Speaking to reporters, Kishida said he had told executives of the ruling coalition to come up with an outline of the measures by the end of this month.

“I’ve been speaking to many people this summer, who voiced concern over the spike in fuel and gasoline prices,” Kishida said. “Against this backdrop, we decided to come up with emergency measures to cope with (rising) fuel costs.”

As part of the measures, the government will consider extending subsidies aimed at curbing gasoline prices set to expire at the end of September, broadcaster TV Asahi reported.

Kishida also signalled the chance of extending subsidies aimed at curbing utility bills, saying the idea will be considered by looking at “various price developments”. REUTERS