Ministry of Economic Development has urged to maintain the prices of goods even though the stock decreases. Noting that some businesses hike the price when some items in stock decrease, Economic Ministry stated the decrease in the items is not an opportunity for businesses to hike the price.
The government aims to establish a system in Ramadan which is equally beneficial for both customers and businesses, Deputy Minister at Economic Ministry Abdulla Mohamed said speaking on a TV programme aired on PSM News. Abdulla Mohamed with regret noted that some businesses increase the price when stock in the market decreases and urged to refrain from such acts.
Furthermore, the government does not plan to set a ceiling price, he assured the government is mandated to control the price if prices go out of control, according to the Deputy Minister.
Commemorating the month of Ramadan, Economic Ministry met with businesses and assured mostly used items by Maldivians will be made available without any difficulties. While staple food prices were decreased, Economic Ministry highlights market prices were also low comparing to last year. Demand of food items are relatively high during Ramadan compared to the rest of the year.