Nepal Implements Two-Day Weekend Amid Oil Supply Crisis
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Key Takeaways
Kathmandu, April 5 (NationPress) In light of persistent disruptions in fuel supplies stemming from the turmoil in West Asia, the government of Nepal has announced a two-day weekend for both public offices and educational institutions.
According to the new directive, public holidays will be observed on Saturdays and Sundays for government entities and schools. The Minister for Education, Science and Technology, Youth and Sports, and government spokesperson, Sasmit Pokharel, stated that a Cabinet meeting held on Sunday reached this decision, taking into account the ongoing global oil supply challenges impacting the economy, especially across Asian nations.
The minister further noted that government offices, apart from educational institutions, will now operate from 9 a.m. to 5 p.m. on weekdays, a shift from the previously established hours of 10 a.m. to 5 p.m.
Additionally, the Nepal Cabinet has resolved to draft the necessary legal framework to support the transition of petrol and diesel vehicles to electric vehicles. While there has been a notable shift towards electric cars among new registrations in Nepal, combustion engine vehicles still dominate the landscape due to earlier purchases.
The ongoing conflict involving the U.S., Israel, and Iran has effectively closed the Strait of Hormuz, a crucial passage for approximately 20% of the world’s fuel supply.
Many Asian countries are significantly reliant on West Asian oil for energy, transport, and cooking, among other applications.
India, a neighboring country, also heavily depends on oil and gas from this region. Since Nepal relies entirely on India for refined fuel and gas, the availability in Nepal is contingent on India's supply capabilities.
Amidst these oil supply disruptions, fuel prices have spiked in Nepal's domestic market. In conjunction with fuel, the costs of various food and non-food items have also surged, impacting households and businesses.