President Dr. Mohamed Muizzu has made some important decisions to ease the financial strain on citizens.

President Muizzu made the decision on Sunday, following recommendation from his Cabinet of Ministers.

Extensive deliberations were held on a paper submitted by the Ministry of Economic Development and Trade.

As such, the president has introduced special policies to lower the prices of essential food items in the Maldives.

Sunday’s meeting saw the cabinet resolving to strictly follow the proposed timeline for reducing prices on essential food items in the Maldives.

Alongside relevant stakeholders, the Ministry of Climate Change, Environment, and Energy reached the decision to compile short-term and medium-term plans to cut down oil production by utility companies all the while increasing the output of renewable energy.

In addition to this, the Ministry of Housing, Land and Urban Development has decided to identify areas to set up modern warehouses and cold storage units to boost storage capacity across the island nation and submit them to the Economic Council.

The State Trading Organization Public Limited (STO) has been instructed by the president to submit an operational model of the plan to the Economic Council.

Further, Muizzu decided to review and adjust the fees applied to commercial ports in the Maldives.

As such, Maldives Ports Limited (MPL) will be required to submit a report detailing their recommendations to the Economic Council.