energy subsidy reform has emerged as one of the most important policy challenges for developing Asian economies. Government expenditure on fossil fuel subsidies, which covers the gap between global and domestic prices, exceeds public spending on education or health in some Asian countries. High fossil fuel subsidies can wreck government budgets. They accrue largely to the
rich and reduce incentives for investment in renewables and energy efficiency. Moreover, fossil fuels (coal, oil, and gas) are major carbon emitters, and burning coal, the most carbon-intensive energy source, has serious climate-change implications