Business

Economic Ministry to take action against businesses over price hikes

Ministry of Economic Development has warned of penalties for businesses over possible hike in prices following the changes in regulation on transportation within the capital city. In a circular, the Economic Ministry stated the changes were brought for the convenience of all citizens.
Economic Ministry stated the change must not result in any price changes, noting that some media reported of possible hike in prices of goods. In efforts to address traffic congestion in Male' city, Economic Ministry decided on a time limit of transporting goods within the city effective from Sunday.
Speaking at a press briefing held regarding the changes brought to transportation of goods, Minister of Economic Development Mohamed Saeed assured the government will not give any chance for businesses to misuse the opportunity. The Economic Minister urged to refrain from misusing such endeavors of the government to ease the livelihoods of Maldivians.
Furthermore, he said the government has now solved the traffic problems faced by Maldivians for a long time, noting the decisions were made with various discussions and considerations.