Apenisa Waqairadovu 
Former Finance Minister Biman Prasad says government has the tools to respond to rising fuel costs, but warns that any intervention must be carefully planned and data-driven.
Speaking during a press conference today, Prasad stopped short of pre-empting decisions by the Cabinet-appointed committee currently reviewing the situation, stressting that it was established just weeks ago and is expected to deliver a policy response soon.
However, he outlined key areas he believes government should focus on immediately.
Prasad says this includes prioritising expenditure, reallocating resources within existing budgets, and putting in place targeted policies to support vulnerable groups most affected by rising costs.
“So there are provisions within the Financial Management Act to look at expenditure reallocation and prioritization.”
Prasad says these mechanisms can be used without delay if there is a clear and immediate policy priority.
He adds that acting early could help ease pressure in the medium to long term, but cautions against rushed decisions.
Prasad warns that government must avoid creating panic by committing funds without fully understanding the impact of such spending.
He says any response must be based on careful analysis and concrete data to ensure it delivers meaningful results.
While acknowledging that some measures can be implemented immediately, Prasad highlights that others may require further assessment over the coming months before appropriate action is taken.
His comments come as government faces growing pressure to roll out mitigation measures following the latest fuel price increase and its expected impact on the cost of living.
