Government hikes food and electricity prices
Shops across the Maldives reported running out of food staples on Friday as customers rushed to buy rice, flour and sugar following an abrupt announcement by the government that it plans to cut food subsidies starting on Saturday
30 Sep 2016, 9:00 AM
Shops across the Maldives reported running out of food staples on Friday as customers rushed to buy rice, flour and sugar following an abrupt announcement by the government that it plans to hike food prices effective Saturday.
Some shops were not selling staples, while others put a limit on kilos per customer, local media report.
The controlled prices for rice, flour and sugar is set to double on October 1, with a kilo of rice, which previously cost MVR3.98 to be sold at MVR7.96. A kilo of sugar which cost MVR4.5 will now cost MVR8, and flour sold at MVR3.5 per kilo will now be sold for MVR5.96.
The economic ministry said the hike was set “because we have noticed that a majority of those who benefit from food subsidies are not its rightful beneficiaries.”
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