The government has pledged to take necessary steps to prevent price hikes on essential food items during the upcoming month of Ramadan. Minister of Economic Development and Trade, Mohamed Saeed, reassured the public during the fourth forum of the ‘Ahaa’ series, a platform where the government directly addresses citizens’ concerns. The forum took place on Saturday evening.
Minister Saeed stated that the government has been successful in keeping the inflation rate stable at approximately three percent, highlighting the administration’s commitment to economic stability. He referred to the measures implemented during last year’s Ramadan, which successfully kept food prices stable. This was largely made possible by President Dr. Mohamed Muizzu’s decision to form a special committee dedicated to monitoring price fluctuations.
The government plans to adopt similar strategies and measures during this Ramadan, which is set to begin on March 1. Minister Saeed expressed confidence that, with these proactive steps in place, the government will continue to maintain food price stability during the holy month.
Citing a World Bank report from last year, the Minister noted that while the World Bank had projected inflation in the Maldives to exceed seven percent, the government’s efforts have kept inflation under control at less than three percent.
The Minister further explained that the Cabinet has formulated and implemented specific policies to address price increases, directly under the guidance of President Dr. Muizzu. These policies are designed to protect consumers, particularly during high-demand periods such as Ramadan.
One key aspect of the policy is the identification of 183 essential food items, with 54 items specifically marked as crucial for Ramadan. The government is ready to intervene quickly if any of these items experience significant price increases.
Minister Saeed also addressed the supply of key commodities like onions, stating that the State Trading Organization (STO) would be responsible for ensuring the availability of this essential item at affordable prices. He reassured the public that if certain products are not readily available from one source, alternative suppliers would be sought. In the event of logistical challenges, the government is prepared to airlift essential goods to ensure a continuous supply.
Additionally, the Minister urged private suppliers, wholesalers, and retailers to work with the government to manage prices and share any challenges they might face in order to prevent price hikes.
With Ramadan just around the corner, the government’s proactive measures are designed to ensure that Maldivians have access to affordable and essential food items throughout the month. These efforts aim to ease the financial burden on households while preserving the spirit of the holy month.
