Post by : Shakul

The ongoing Iran war is creating serious economic problems in Bangladesh as rising fuel prices and energy shortages continue to affect daily life, businesses and industries across the country. Long queues at petrol stations, power cuts and increasing transport costs have become common in many parts of the capital Dhaka. Many families are now struggling to manage household expenses as inflation continues to rise due to global energy disruptions linked to the conflict in the Middle East.

One of the people affected by the crisis is Tariqul Islam, a ride-sharing driver in Dhaka who depends on his motorcycle to support his family. After losing savings from his clothing business, he turned to ride-sharing work to earn money. However, fuel shortages have forced him to spend long hours waiting at petrol stations. According to him, the shortage has reduced his daily income because he cannot operate his bike regularly. He fears that if the situation continues, surviving in Dhaka will become impossible for his family.

Bangladesh is heavily dependent on imported fuel, and much of the oil and gas used in Asia passes through the Strait of Hormuz, a key global shipping route affected by the Iran conflict. As fuel prices increased globally, Bangladesh faced shortages of gas and diesel, leading to more frequent power outages in industrial areas. Although the government recently increased fuel supplies and conditions have improved slightly, concerns over long-term economic damage remain strong.

The government has already introduced several emergency measures to manage the energy crisis. Authorities reduced office hours, shortened shopping mall operating times and introduced fuel rationing in some areas. Bangladesh is also trying to secure alternative fuel supplies and financial assistance from international partners. Neighboring India has reportedly responded positively by supporting fuel supply arrangements as Bangladesh struggles with rising import costs.

The country’s economy is facing additional pressure because of higher energy subsidies. Experts warn that Bangladesh may spend more than one billion dollars extra on fuel and LNG subsidies if global prices continue to rise. International financial institutions including the World Bank and Asian Development Bank have lowered economic growth forecasts for Bangladesh and warned that inflation and unemployment could worsen if the Middle East conflict continues for a long period.

Bangladesh’s garment industry, which is the backbone of the country’s economy, has also been badly affected. Factory owners say exports to Europe and the United States have slowed because of rising business costs and energy disruptions. Manufacturers are spending more money on diesel generators due to repeated power cuts. The prices of materials such as sewing thread, plastic packaging bags and cartons have also increased sharply because they are linked to petroleum products.

Business leaders say factory production has dropped significantly in recent weeks and fear that international buyers could shift orders to countries like India, Vietnam and Cambodia if the crisis continues. Bangladesh is the world’s second-largest garment exporter after China and the industry provides jobs to nearly four million workers, most of them women from rural communities. Workers are now worried about losing their livelihoods if factories reduce production or shut down due to rising operational costs.

#Asia News #Energy #Economy #Iran War