Dhaka: Bangladesh has announced new measures to cut energy consumption by reducing working hours and cutting government budgets, as the conflict in the Middle East impacts global fuel markets and strains Bangladesh's energy supply. Officials said the measures, approved by the cabinet on Thursday, are aimed at stabilizing Bangladesh's energy sector, a country heavily reliant on fuel imports and facing price volatility and uncertainty in oil supply resulting from the US-Israeli conflict with Iran.
According to Thai News Agency, under these new regulations, government agencies will adjust their operating hours to 9:00 AM to 4:00 PM, while markets and shopping centers must close by 6:00 PM to reduce electricity consumption. In addition, the government has ordered cuts to unnecessary government spending and requested cooperation from the industrial sector to reduce energy consumption, such as limiting unnecessary lighting.
The Ministry of Education is preparing to issue guidelines for schools this Sunday, considering various options such as adjusting class schedules and switching to online learning. At the same time, authorities will allow the import of electric school buses duty-free, along with incentives for participating schools.
Bangladesh has previously implemented fuel rationing measures to alleviate shortages, along with restrictions on vehicle sales and reduced operating hours at gas stations, amidst panic buying and stockpiling that resulted in long queues. Officials warned that fuel reserves remain tight, despite some easing during the recent long holiday weekend.
The Bangladeshi government is currently scrambling to secure energy sources to meet the needs of its population of approximately 175 million people, while also seeking alternative energy sources amidst volatile global markets. Furthermore, the government is in the process of securing over US$2.5 billion (approximately 91.475 billion baht) in external loans to pay for imported fuel and liquefied natural gas, as soaring energy costs have severely impacted its international reserves.