Addu City shops hike prices of frozen goods after subsidy cut
31 May 2015, 5:54 PM
Hassan Mohamed
Shops in Addu City have hiked the price of frozen goods and reduced business hours due to losses caused by the government’s decision to cease electricity subsidies to businesses in the atolls.
The majority of businesses in the southernmost atoll voted to increase the price of frozen goods by 15 percent and other items by five percent at a meeting organised by the city council last night.
“There were around 145 businesses in the meeting last night. More than 90 percent agreed to increase the prices,” said Mohamed Luthfy, assistant director at the council.
The government’s decision to discontinue electricity subsidies to businesses sparked protests across the country in April with shops, cafés and restaurants shutting down in protest. Electricity bills doubled, and in some case tripled, when the subsidy was cut for more than 5,700 businesses.
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