The Minister of Finance and Planning Moosa Zameer has assured the public that the government has no plans to raise fuel and diesel prices in the near future, despite rising global oil costs and ongoing instability in the Middle East.
Speaking at a press briefing by the special ministerial committee, Minister Zameer emphasised the government’s commitment to maintaining price stability and ensuring the uninterrupted supply of essential goods and services.
He cited the geopolitical unrest in the Middle East as a significant factor affecting both national revenue and private sector operations, particularly due to a considerable decline in tourist arrivals, which form a cornerstone of the Maldivian economy.
“We are closely monitoring the situation and working collaboratively with relevant authorities to mitigate adverse impacts,” he said.
Minister Zameer stressed that the government remains focused on safeguarding basic public services, including healthcare, student remittances abroad, and the consistent importation of food staples. Efforts are also underway to keep the prices of essential commodities at affordable levels to ease the burden on households.
Highlighting the role of both the State Trading Organization (STO) and private sector players in the fuel supply chain, the Minister affirmed that policy measures are being designed to protect the interests of all stakeholders.
“The fuel business involves STO as well as private entrepreneurs. We are ensuring that no decision undermines their operations,” he said.
Reassuring the public on fuel availability, Minister Zameer confirmed that the Maldives currently holds sufficient fuel reserves. He revealed that STO has already secured two fuel shipments, with additional deliveries expected next month—specifically, a consignment of diesel and petrol scheduled to arrive from Singapore, followed by another from Sohar, Oman.
Despite mounting pressures from surging international oil prices, the Minister reiterated that the government has no intention to adjust fuel prices in the days ahead.
The government is fully committed to providing fuel at reasonable rates while certain industries have also been exempted from any price increases so far, he added.