State Trading Organization (STO) has stated that preventing the escalation of prices in Ramadan was an astounding success for the company.
Speaking to Miadhu News, STO Managing Director Ahmed Shaheer stated that in some cases wholesale of goods have to be halted when goods ran out in the market. However, even if this case occurs, the company had successfully carried out the Government strategy to impose a price cap on essential goods.
“At the start of Ramadan, a kilo of onions was selling at around MVR 20, MVR 22. This is now at around MVR 12, MVR 15. The average price of an egg in the market at the start of Ramadan was around MVR2.50. STO has been selling at a standard rate of MVR 1.50 per egg. This change is reflected in the prices in ordinary shops,” Shaheer said.
Shaheer said that President Abdullah Yameen had decreed that the prices of essential goods have to be maintained at a level price and that STO was striving to meet that goal.
Price control of essential goods is a success: STO
