Bangladesh has introduced new measures to curb energy consumption, including cutting working hours and reducing public spending, amid the ongoing conflict in Iran, which has disrupted global fuel markets and put pressure on electricity supplies in the South Asian nation.
Officials said the measures, approved by Bangladesh's cabinet on Thursday, aim to stabilize the energy sector in Bangladesh, which heavily relies on fuel imports and faces pressures from price volatility and supply uncertainty due to the Iran conflict. Under the new rules, government offices will operate from 9 a.m. to 4 p.m., while markets and shopping malls must close by 6 p.m. to reduce electricity consumption. The government has also ordered cuts to non-essential public spending and urged industries to reduce electricity use, imposing restrictions on excessive lighting, for example.
The Ministry of Education will issue directives for schools starting next Sunday, considering options such as adjusting schedules and shifting to online learning. Authorities will also allow the duty-free import of electric school buses, offering incentives for participants.
Bangladeshi authorities are striving to secure energy supplies for the country's 175 million people, exploring alternative sources amid global market volatility. The country is also seeking over $2.5 billion in external financing to help cover the costs of importing fuel and liquefied natural gas, as rising energy costs further strain foreign exchange reserves.
