Extra MVR 453M spent on subsidizing electricity

5 days ago

The government spent an additional MVR 453 million on subsidizing electricity services last year, as crucial subsidy reforms it announced remained tabled. President Dr. Mohamed Muizzu administration had included major reforms in its 2025 budget, including phasing out broad subsidies in favor of targeted subsidies. As such, the Finance Ministry removed MVR 2.4 billion in subsidies from the budget, and added