STELCO, currently operating at a loss, is issuing a flat rate bill of MVR 400 for the month of Ramadan as elections approach
STELCO has commenced meter reading to issue separate electricity bills for Ramadan following the President's decision to provide discounts ensuring bills do not exceed 400 MVR. While such subsidies are being distributed through state-owned enterprises in the President's name, experts warn that these measures could impose a significant financial burden on companies already struggling with debt.
STELCO Deputy Managing Director Dr. Ali Azwar and senior company officials visit K. Gulhifalhu to inspect the ongoing provision of electricity services on the island. | STELCO | Stelco
State Electric Company (STELCO), which is already operating at a loss, has arranged to cap electricity bills at MVR 400 for the month of Ramadan, a move introduced just ahead of the upcoming elections.
In a post on 'X' crediting President Dr. Mohamed Muizzu, the company announced that meter readings will be conducted on February 16 and 17, 2026, to prepare dedicated electricity bills for the month of Ramadan. This follows the President's decision to provide discounts ensuring that electricity bills for the holy month do not exceed 400 Rufiyaa.
The company also requested all customers to extend their full cooperation in this matter.
While the administration continues to utilize state-owned enterprise resources to frame public services as personal benefactions from the President, cases of canned tuna are currently being distributed for Ramadan under the guise of "Presidential Ramadan Gifts." It is notable that this program is being executed by a debt-ridden state company in a manner specifically designed to attribute political credit to President Muizzu.
Experts point out that the goods distributed and discounts offered by these companies effectively increase their debt burden. They further emphasize that as these companies fall deeper into debt, the ultimate responsibility for repayment falls upon the public.
