STO slashes prices of essential goods ahead of LCE
20 އެޕްރީލު 2017 | ބުރާސްފަތި 17:21Rice, sugar prices slashed by 15 percent
Labourers stack bags of rice
State Trading Organization (STO) has announced reductions from prices of basic goods and fuel.
The move coincides with the upcoming Local Council Elections.
As such, from Sunday onward, prices of rice and sugar will be reduced by 15 percent, while price of flour has been slashed by 12 percent.
The prices of basic staples had risen following the Government’s decision to change the procedures on subsidies. The subsides that was previously granted to the whole population was then changed so that only qualified applicants can receive it.
STO had also passed to reduce the price of fuel. With the changes, 10 laari has been cut from every diesel liter, while 20 laari has been deducted from a petrol liter.
STO brings changes to the prices of fuel based on international prices. At the time of reduction, the global fuel prices are on the uptake.
