Govt. warns action against businesses raising prices of essential goods during Ramadan

Economic Minister Mohamed Saeed states government will take action against businesses that raise the prices of essential goods in conjunction with Ramadan.

He made the remark in response to a question from a member of the general public at Saturday night’s ‘Ahaa Forum,’ asking for clarification on the government’s plans to control prices during Ramadan, noting that food prices tend to rise during the fasting month.

In response, Minister Saeed said a policy has already been formulated at the instructions of President Dr. Mohamed Muizzu which pertains to the government’s course of action if there is an increase in prices of any essential goods or any other household item during Ramadan. 

“We will intervene if there is an increase in the prices of any goods in the market. That is not a choice, but a must. This is so the government can address any obstructions the general public may face in acquiring essential goods,” he said.

According to the Minister, the policy covers 183 essential goods of which 54 have been identified as crucial for Ramadan. These goods were determined by the State Trading Organization (STO) with assistance from the Economic Ministry’s technical experts, he added.

Minister Saeed said President Muizzu does not wish to see an increase in the prices of these products.

STO imported certain goods and sold them at a lower price last Ramadan after their prices hiked. Similarly, the Minister said goods will be acquired by any means and sold at a lower price.

“If it is not available from one place, they will be acquired from another place. Meaning, if it is not available in one country, it will be acquired from another country. If it cannot be transported via sea, it will be air freighted,” he detailed.

The Minister said the government’s target is to immediately resolve the issue the moment there is an increase in the price of a good.

He appealed to businesses against raising the prices of essential goods during Ramadan.