Japan Weighs New Subsidy Measures Amid Rising Fuel Costs

Japan's government is contemplating reinstating subsidies for electricity and gas prices from January to March next year in response to high fuel costs. Additionally, a gradual reduction in gasoline subsidies is under consideration to address rising costs.

Japan's government is contemplating the reinstatement of subsidies for electricity and gas prices from January to March next year, in an effort to mitigate the impact of soaring fuel costs, according to NHK reports.

Government officials are collaborating with ruling parties to incorporate this measure into an upcoming economic stimulus package, which is expected to be finalized shortly. NHK cited feedback from officials emphasizing the urgency of the situation.

In a separate consideration, authorities are planning to gradually reduce subsidies aimed at curbing the escalating cost of gasoline from December, as reported by Kyodo News Agency on Wednesday.

(With inputs from agencies.)