Managing Director of State Electric Company Limited (STELCO) Ahmed Shareef has assured the electricity price will remain the same despite the fluctuations in fuel prices. He made the statement in response to questions posed inquiring whether electricity prices will change following the increase in the price of fuel in the international market.
In response, Shareef said the government has made it possible for STELCO to purchase fuel at a flat rate, and that therefore, the changes in the price of fuel will not affect the electricity prices. He said the policy of the administration is to provide services to the citizens without them facing burdens. He also said that the utility company will continue to implement the policies of the administration that benefits the public.
State Trading Organisation (STO) has revealed the price of fuel imported to the Maldives has increased in the past weeks. As such, Fuel Supplies Maldives Private Limited (FSM) will sell a litre of petrol for USD0.95 and a litre of diesel for USD0.96. as per the newly announced changes on March 5. STO attributed the changes in fuel prices to the significant fluctuations in global fuel prices due to the ongoing Russia-Ukraine conflict.