Japan gov't OKs 500 bil. yen use from reserve fund for energy bill subsidy

The Japanese government decided Tuesday to use 513.5 billion yen ($3.2 billion) from reserve funds for the current fiscal year to resume subsidies for energy bills during the summer to ease the impact of the conflict in the Middle East.The subsidies will cover electricity and gas bills during the July-September period, when demand for air conditioning increases, resulting in a reduction of about 5,000 yen for an average household. The government said the subsidies will help keep bills below last summer's levels."We focused on reducing the burden in August, when electricity usage peaks," Ryo…READ FULL ARTICLE