Price controls take effect from April 6th
Market worker carrying a bag of onions
The Maldives government has announced price controls for onions, potatoes and eggs.
On Saturday, the Ministry of Economic Development announced price controls set to take effect from April 6th.
As such, the price controls are as follows;
According to the ministry, those who gouge prices will be fined up to MVR 100,000 for the first offence. Repeat offenders will be fined an additional MVR100,000 and will be ordered to shut down for a period of up to six months.
This comes at a time State Trading Organisation (STO) has begun rationing these items due to inflation. Market prices of onions and potatoes have risen to MVR30 per kilogram whereas one egg costs between MVR02.50-03.00
500 metric tonnes of sugar and 993 metric tonnes of rice procured by STO arrived in Malé City from India's Tuticorin port on March 28th with another 1500 metric tonnes of rice and 500 metric tonnes of sugar en-route.
