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Poorer nations face unrest as wealthy nations snap up fuel: Report

Shops in Bangladesh are closing at 8 pm as part of energy austerity measures, while Mexico's government has bolstered subsidies to cushion residential electricity costs

Illustration: Binay Sinha
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Illustration: Binay Sinha

Agencies
Russia’s war in Ukraine has Europe bracing for a tough winter, but the costs are piling up higher in emerging nations as governments struggle to keep energy flowing to citizens hit by surging inflation. 

Pakistan’s government is triggering rolling blackouts and boosting power bills because it can no longer secure enough fuel. Shops in Bangladesh are closing at 8 pm as part of energy austerity measures, while Mexico’s government has bolstered subsidies to cushion residential electricity costs. 

“It doesn’t look like there is any way they can outbid the developed countries,” said Muqsit Ashraf, who leads Accenture’s Global Energy Industry

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First Published: Aug 19 2022 | 10:57 PM IST

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