Several nations have moved to a four-day working week as the energy crunch linked to Trump’s conflict with Iran continues to deepen.
Following strikes by the US and Israel on Iran, Tehran has responded by restricting shipping through the Strait of Hormuz.
With roughly 20 percent of the world’s oil transported via the channel, the disruption has pushed oil prices higher and rattled markets as fuel and energy costs climb.
While Iran has permitted a limited number of vessels to transit the strait, the spike in prices has prompted some governments to introduce emergency measures as the cost of oil surges.
At the time of writing, Brent Crude is trading at around $108 per barrel.
A significant share of oil that normally moves through the strait is destined for South Asian markets. Although the rise in prices is being felt globally, countries in that region are among those experiencing the shortages most immediately.
Amid tightening supplies, multiple countries have shifted to a four-day work week.
Pakistan was one of the first to announce a four-day working week, describing it as an emergency response to worsening fuel availability.
Prime Minister Shehbaz Sharif said the country needed to curb fuel consumption as the government braced for further shocks from Middle East oil markets.
As part of the wider response, schools were shut for two weeks and universities were instructed to switch to online learning.
Mr Sharif said: “In the next two months, government departments will get a 50 per cent cut in fuel allowances.”
Pakistan depends heavily on oil and gas imports from the Arabian Gulf, and disruptions affecting supplies typically associated with Qatar, Kuwait, Bahrain, the UAE and Saudi Arabia have intensified the impact on the country.
The Philippines has also introduced a temporary four-day week as it tries to manage the effects of the ongoing crisis.
President Ferdinand R. Marcos Jr. approved the policy from March 9, applying it to certain offices within the executive branch.
The order also tightened rules around travel, restricting non-essential trips and stating that ‘travel undertaken without a clear justification of urgency, operational necessity, or direct programmatic relevance shall likewise be considered unnecessary.’
Frontline and emergency personnel, however, are not covered by the rule and will continue operating as normal.
Elsewhere, Sri Lanka has pursued a similar fuel-saving approach by making Wednesdays a holiday for public institutions, including schools, universities and government offices.
Addressing senior officials during an emergency meeting, President Anura Kumara Dissanayake said: “We must prepare for the worst, but hope for the best.”