News India Live, Digital Desk: The most horrific effect of the ongoing war in West Asia (Middle East) and the siege of the Strait of Hormuz is now visible on India’s neighboring countries. Countries like Sri Lanka, Pakistan and Bangladesh are currently standing on the verge of a severe energy crisis. Due to huge surge in international oil prices and supply chain breakdown, petrol pumps in these countries have started running dry and power cuts have disrupted normal life. While on one hand India is keeping itself safe with its strategic foresight, on the other hand the situation in the neighborhood is getting out of control. Sri Lanka and Bangladesh: The era of rationing and ‘fuel pass’ has returned. Sri Lanka, which was just recovering from the economic recession, is once again in the grip of oil crisis. The government has declared weekly holidays to save fuel and petrol and diesel are being distributed through ‘fuel pass’. Same is the situation in Bangladesh, where only a few days of oil reserves are left. There is a huge shortage of CNG and LPG in many big cities including Dhaka, due to which strict steps are being taken like running schools on online mode and work-from-home. Inflation breaks record in Pakistan, petrol crosses 330. The situation is most serious in the neighboring country Pakistan. Petrol prices in Pakistan, already burdened with debt, have crossed the historic level of Rs 332 per litre. With crude oil prices reaching close to $120 per barrel in the international market, the government of Pakistan is not in a position to provide subsidy. Heavy power cuts (load shedding) have brought industries to a standstill, causing a double blow of unemployment and inflation on the public. Impact on India: Diplomatic activism with caution. This situation of its neighbors is a matter of concern for India. Although India is currently managing the situation with its strategic petroleum reserves and purchasing concessional oil from Russia, the threat of inflation is looming due to the increase in commercial LPG prices within the country and premium fuel becoming expensive. Experts believe that if the war in the Gulf countries prolongs, a humanitarian crisis may arise in South Asia, to deal with which India may have to play the role of ‘big brother’.
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