Bangladesh plans staggered factory holidays to ease power crunch | World News

The proposal is to ask factories to choose different days off instead of all remaining closed only on Friday, Minister of State for Power and Energy Nasrul Hamid said in an interview.

Bangladesh is considering staggered holidays for garment manufacturers to deal with a worsening energy crisis caused by fuel shortages, according to a government minister.

The proposal is to ask factories to choose different days off instead of all remaining closed only on Friday, Minister of State for Power and Energy Nasrul Hamid said in an interview. “We sat down with business leaders on Sunday and they accepted our proposal in principle,” he said.

Read also: Bangladesh seeks China’s help to repatriate Rohingya refugees

The rolling holiday system for different industrial areas is expected to reduce pressure on demand for electricity as well as fuel for public transport, Hamid said. The South Asian nation, also the world’s second-largest garment exporter after China, has resorted to power cuts to preserve fuel reserves amid war-induced energy price shocks, and has separately targeted multilateral lenders, including the International Monetary Fund, for loans to bolster its foreign. reservations as import ticket balloons.

The proposed measure will save up to 550 megawatts of electricity a day at a time when power outages are extending beyond the original one-hour schedule to at least three hours in some areas.

The government recently announced a 52% increase in fuel prices, a record jump for the nation, which led to street protests. Soon after, transport operators increased bus fares, which increased public discontent.

Read also: Bangladesh police bust social media star for being ‘too ugly to sing’ and make him apologize for destroying classics

The energy crisis worsened after volatile global prices forced Bangladesh out of the spot market for liquefied natural gas cargoes, Hamid said in an earlier interview. The government stopped buying spot LNG cargoes in June.

Bangladesh imported about 30% of its LNG on a spot basis this year, down from more than 40% last year, according to Bloomberg NEF.

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