Delays in Government policy responses could reduce the effectiveness of measures to address the fuel crisis, says former finance minister Professor Biman Prasad.
Prof Prasad said timely and targeted decisions were critical as Fiji continued to face pressure from rising global fuel prices.
“The important thing is to make sure that you act on time, that you are able to identify the intervention points,” he said.
Prof Prasad warned that when decisions were delayed, their intended impact was often reduced, particularly in fast-moving economic conditions such as the current fuel crisis.
“If there is a policy lag, things that should have happened four months ago, if you do it four months after, then the impact may not be the same and the impact may not be as desirable.”
He said Fiji’s import-dependent economy made it especially vulnerable to global fuel price movements and supply uncertainty, requiring quicker and more responsive policy action from Government.
Prof Prasad also called for tighter control of public spending, saying unnecessary expenditure should be reduced to help manage fiscal pressure during the crisis.
“No conferences, no additional expenditures.”
Prof Prasad said ensuring timely intervention, stronger spending discipline and targeted support measures would be essential to maintaining economic stability while cushioning households and key sectors from the full impact of rising fuel costs.
