Reply: The war in the Middle East has caused a considerable reduction in the global supply of energy products. Based on reports from early April 2026, the war in Iran has caused the largest oil supply disruption in history, surpassing the crisis of 1973 and 1979. The conflict has resulted in the effective blockade of the Strait of Hormuz by Iran and production drops due to infrastructure damage in main oil producing countries in the region. Global oil supply was projected to plunge by 8 million barrels per day in March 2026. Net importing countries like Mauritius are bearing the brunt of the impact of this disruption. As a result of the war, our import bill for petroleum products by the State Trading Corporation in March this year has increased by 82% due mostly to price increase over the previous month. It is expected that the import bill will rise further by 21% in the month of April 2026. As at 03 April 2026, the price per barrel of Brent oil was $109.03 compared to $72.48 on 27 February, representing an increase of 50%. The price of oil may not have peaked yet. As an importing nation, Mauritius faces two major risks. One, escalating prices that can further severely destabilise our macroeconomic fundamentals through the balance of payments, inflation and official foreign currency reserves. Second, Mauritius faces the risk of major disruption in accessibility to energy products. This is an existential issue since we are totally dependent on supply from overseas. The situation, therefore, calls for more judicious use of energy products, in particular stringent demand management policies. As regards the first part of the question, I wish to inform the House that there are already safety nets in our tax system in particular for the manufacturing sector. Manufacturers using Gas Oil in stationary engines, boilers and burners are already exempted from payment of excise duty. They can also recover the VAT paid on Gas Oil. Likewise, Fuel Oil used by CEB is not subject to excise duty and the VAT paid is recovered by CEB. For the public transport sector, under the Bus Company Recovery Account Scheme, a refund is made on the retail price of diesel to owners of buses used for public transport to ensure that the actual cost of diesel per litre is maintained at a subsidised price of Rs40 per litre. In fact, the subsidy element has increased to Rs24.80 per litre compared to Rs18.95 prior to the adjustment in retail price on 25 March 2026. There are also other mechanisms in place to mitigate rising cost of living and protect the population from inflationary pressures. For example, my Government has earmarked Rs2 billion for this financial year in the Price Stabilisation Fund to maintain affordable prices for essential goods, namely milk, edible oil, processed cheese, infant milk powder, canned pilchards, diapers. As from 01 February 2026, medicines relating to cardiovascular diseases, hypertension and diabetes are also subsidised. Since March 2025, an additional 500 products are under the maximum mark-up price control mechanism to control the maximum retail price of these products. In addition, Government is providing a subsidy of more than 50% of the cost of a 12-kg cylinder Liquefied Petroleum Gas. On 02 April 2026, the cost price was Rs646, thus the subsidy was of Rs396. Government is maintaining free transport for students and elderly at an annual cost of Rs1.7 billion. As regards the second part of the question, I am personally chairing a Crisis Committee to look into the economic and social impacts of the present conflict in the Middle East. The first meeting was held on Wednesday 01 April 2026 and a number of proposals have been made by Ministers, including measures to alleviate the impact of the surge in petroleum prices. The proposals are being examined and will be submitted for a decision to Cabinet. CÔTE D’OR – SPECIAL ECONOMIC ZONE – INCENTIVE PACKAGE – FINANCIAL COST