The government has revised banking hours in an effort to tackle the fuel crisis and reduce overall expenditure. Under the new decision, banking transactions will take place from 9:00 am to 3:00 pm, while banks will close at 4:00 pm.
The decision was made at a Cabinet meeting held on Thursday (April 2). Cabinet Secretary Nasimul Ghani informed reporters of the change around midnight after the meeting.
He said the move aims to reduce pressure on electricity and fuel consumption, as well as bring overall costs under control.
At the same time, office hours for all government and non-government institutions have been set from 9:00 am to 4:00 pm. The government believes that synchronising working hours will help lower electricity usage.
The Cabinet Secretary also noted that the ongoing global situation—particularly the conflict in the Middle East—has created uncertainty in fuel supply. As Bangladesh depends on imports for around 80 per cent of its oil, this has increased pressure on both supply and prices.
In response, the government has taken a series of cost-cutting measures. These include suspending the purchase of new government vehicles, watercraft and aircraft; halting the procurement of computer equipment; reducing domestic training by 50 per cent; and stopping government-funded foreign training.
Additionally, expenditure on meetings and seminars will be reduced by 50 per cent, while spending on fuel, electricity and gas will be cut by 30 per cent. Unnecessary travel expenses will also be reduced by 30 per cent.
Meanwhile, all markets and shopping malls have been instructed to close by 6:00 pm, although emergency services will remain exempt from these restrictions.
The Cabinet Secretary said relevant ministries and agencies have been directed to implement these decisions, and monitoring will be strengthened. He added that further measures may be taken depending on the situation.
Earlier, the Cabinet meeting was held at the Cabinet Room of the National Parliament Secretariat, chaired by Prime Minister Tarique Rahman. The meeting began at around 8:45 pm and concluded at 11:30 pm.