Maldives Trade Union (MTU) has expressed concern over rising prices in the markets, more prominent since the start of Ramadan.

Speaking in a press conference held in Mookai Suites on Sunday, Trade Union’s Vice President Adam Azim said that there was the impression that business owners were deliberately jacking up prices. However, he said this escalation of prices was a direct result of the failure of Government’s economic policies.

Azim said the Government had the right to reduce the fees of the slots released to traders in the local market. Therefore, he called on the Government to reduce the prices on goods and to eliminate the duties taken.

MTU’s Parliament Secretary Mohamed Ameeth said the Government agencies had the biggest responsibility to reduce prices, adding that Government could have implemented controls prior to Ramadan.

Ameeth assured the Union will seek to bring amendments to the economic laws, adding that just opening up islands for lease was not a sufficient policy. He stressed the Government needed to bring in controls and changes to MIRA.

The members had also expressed the concerns over the Government’s double taxation policies.