President Dr Mohamed Muizzu has introduced special policies to lower the prices of essential food items in the Maldives. The President made this decision following the Cabinet's deliberations on a paper submitted by the Ministry of Economic Development and Trade during today’s Cabinet meeting.
The Cabinet resolved to strictly adhere to the proposed timeline for reducing prices on essential food items in the Maldives. The Ministry of Climate Change, Environment, and Energy, with pertinent stakeholders, has decided to formulate short-term and medium-term plans to reduce oil production by utility companies while concurrently augmenting renewable energy output.
The Ministry of Housing, Land and Urban Development additionally decided to identify areas to set up modern warehouses and cold storage units to increase storage capacity across the country and submit them to the Economic Council. The President instructed the State Trading Organization Public Limited (STO) to submit an operational model of this to the Economic Council.
The President further decided to review and adjust the fees applied to commercial ports in the Maldives during the Cabinet session. In this regard, Maldives Ports Limited (MPL) will submit a report detailing their recommendations to the Economic Council.
