The energy crisis has reached Bangladesh

Bangladesh is facing a serious energy crisis due to a sudden rise in commodity prices. Of course, the change in prices is linked to the outbreak of war in Ukraine.

The country’s authorities have reduced the working day in offices to seven hours, while schoolchildren have an extra day off each week (in addition to the traditional Friday, also on Saturdays). Residents also have to get used to two-hour power cuts.

Energy in Bangladesh essentially comes from burning natural gas, the price of which went up after February 2022. Interestingly, diesel power plants in the country have been shut down altogether due to a 40% increase in the price of the raw material!

The authorities are facing protests from local residents struggling to buy the increasingly expensive fuel.

Bangladesh is one of three Asian countries (along with Sri Lanka and Pakistan) that have asked the IMF (International Monetary Fund) for a loan to rescue the country’s economy. A slowdown in the development of this hitherto Southeast Asian tiger is to be expected.

Source: BBC, (mm)

Pic: Pok Rie (