Ministry of Economic Development has vowed to take action against businesses that hike prices in Ramadan without a reasonable cause.
Addressing a press conference held at the Ministry of Economic Development, Deputy Minister of Economic Development Abdulla Mohamed said that the ministry would be monitoring market prices throughout Ramadan. He added that the ministry has held meetings with businessmen regarding the prices of products in the Maldivian market. He said that businessmen have assured that unless there is a natural disaster or unless the prices of products increase in the global markets, businesses would not hike prices during the month of Ramadan.
Deputy Minister Abdulla added that action would be taken against businesses that hike prices without a plausible reason, while demand is high.