After a period of rising prices, current trend being observed is a widespread shortage of goods: Amru

Six months ago, commodity prices were on the rise; however, the current situation has shifted toward widespread shortages, according to Hussain Amru, the former Managing Director of STO.

Speaking on RaajjeTV’s "Fala Surukhee" program, Amru stated that the general situation in the country has deteriorated significantly. He noted that while prices began rising six months ago, the current trend shows a growing shortage of essential goods.

Highlighting that the root cause of these issues is the dollar shortage, Amru noted that the current administration was not merely installing standard ATMs across the islands. He pointed out that dollar ATMs were being established even in islands with populations as small as 200 or 300 people. Amru further stated that these actions were carried out under the guise of bringing development to the islands.

The entire government visited islands with populations as small as 200 or 300 people to inaugurate ATMs. During these ceremonies, ribbons were cut and the President himself demonstrated the service by withdrawing US dollars. Yet, less than a year later, citizens are struggling to withdraw even the small amount of dollars held in their own personal bank accounts. There is a clear disconnect between the government's rhetoric, their intended actions, and the actual reality of the situation.

Hussain Amru

Amru highlighted this as a significant issue, noting that the Maldives is a nation heavily reliant on imports. He pointed out that beyond food supplies, all essential materials required for labor and industry must also be brought in from abroad. Amru further explained that since these imports are purchased using US dollars, the current shortage and difficulty in accessing foreign currency have brought the importation process to a standstill.

Due to import constraints, numerous items are disappearing from shop shelves. For about six months now, it has been impossible to bring in construction and finishing materials. If you visit any hardware store looking for tiles, you will find they are unavailable. Shops are still relying on stock from six months ago, and once that is depleted, there are no replacements. Food supplies are also dwindling to the point of exhaustion. Initially, prices surged. We have been monitoring the situation for two months; prices have continued to climb steadily. For instance, a standard one-liter milk packet that cost 25 Rufiyaa six months ago has now risen to 38 Rufiyaa.

Hussain Amru

Amru stated that following a period of extreme inflation, a new trend is emerging. He noted that goods are now disappearing from shelves, with shops increasingly facing stock shortages. Expressing his concern, Amru warned that if this issue is not addressed, the public will face significant hardships.