The government will take necessary measures to ensure food prices remain stable during the upcoming holy month of Ramadan, Minister of Economic Development and Trade Mohamed Saeed has assured.
Speaking at the Ahaa forum on Saturday evening, Minister Saeed reiterated the administration’s commitment to maintaining price stability, highlighting that inflation has remained largely at three percent under President Dr Mohamed Muizzu’s leadership. He noted that a similar approach had successfully kept food prices stable during last year’s Ramadan, made possible by a special committee established to monitor and manage price fluctuations.
Minister Saeed expressed confidence that the government would achieve the same outcome this year, as Ramadan begins on 1 March. He pointed out that despite the World Bank forecasting inflation in the Maldives to exceed seven percent last year, the government had kept it below three percent through proactive measures.
A specific policy has been formulated to counter any market-driven price increases, with 183 items listed under the government’s monitoring framework. Of these, 54 are identified as essential goods for Ramadan. Minister Saeed assured that the government is prepared to intervene if price hikes occur for any of these items.
Onions, he noted, would be imported through the State Trading Organisation (STO) at a lower cost. He emphasised that if supply from one source becomes unavailable, the government will secure imports from another country, and if necessary, goods will be brought in by air freight.
“Our target is to immediately attend to any increase in prices,” he said, adding that private suppliers, wholesalers, and retailers should also take proactive steps to prevent price hikes and share any challenges with the government.
Minister Saeed also briefly touched on the government’s efforts to develop the bunkering industry, noting that while progress has been made, the Maldives is competing with neighbouring countries that have more established facilities. He reiterated that previous administrations had neglected the sector, but efforts are now underway to strengthen it.
The Ahaa forum, where Minister Saeed made these remarks, serves as a platform for the government to engage directly with the public. Citizens can submit questions in person, via phone calls, SMS, or social media.
