Claims of Rising Commodity Prices are Politically Motivated: Minister Saeed
The Minister stated that increasing the prices of goods is not a government policy, noting that a special government committee is currently working to protect citizens from potential economic hardships resulting from foreign conflicts.
Minister of Economic Development and Trade Mohamed Saeed. | President's Office | President's Office
Minister of Economic Development and Trade Mohamed Saeed has dismissed claims that commodity prices would surge following last Saturday's election, labeling such rumors as politically motivated.
Saeed made these remarks during a press conference held on Tuesday by the special ministerial committee. The committee was established by the President to implement collaborative measures aimed at addressing and mitigating the potential challenges facing the Maldivian people due to the ongoing unrest in the Middle East.
Saeed stated that claims suggesting the government intends to gradually increase prices following last Saturday's election are baseless political fabrications spread by the opposition. He further noted that prices in the local market will inevitably rise in tandem with global market fluctuations driven by ongoing international conflicts.
Claims made by certain political figures—specifically those currently in opposition to us—suggesting that prices will rise following the election are purely political rhetoric. These assertions are not grounded in market realities. To illustrate, consider these two examples. Fuel prices increased prior to the start of the election period as soon as they rose on the international market. This occurred because it is governed by a specific systematic process. The approaching election did not prevent the price of fuel from increasing.Minister of Economic Development and Trade Mohamed Saeed
Saeed stated that the change was not related to the election. In this regard, he pointed out that the price of fuel sold by STO had actually increased prior to the elections held last Saturday.
Minister Saeed stated that increasing the prices of goods is not a policy of the government. However, he noted that due to market fluctuations—particularly with the ongoing conflict in the Middle East—the prices of certain commodities, including fuel and gas, are expected to see changes.
The ongoing conflict in the Middle East has triggered significant shifts in global markets. Notably, there has been a marked increase in oil and gas prices, alongside rising freight and shipping costs.
