The Ministry of Economic Development on Saturday revealed the government's decision to set a maximum price for onions, eggs, potatoes and after considering the economic repercussions of the ongoing COVID-19 pandemic.
Effective April 6, the price cap will be implemented under section 7 of the Consumer Protection Act.
- One kilogram of onions: MVR 20
- One kilogram of potatoes: MVR 20
- One kilogram of yellow lentil beans: MVR 45
- One egg: MVR 1.80
The Economic Ministry further stated that retailers and outlets that violate the regulation will be fined, with first time offenders fined an amount not exceeding MVR 100,000 and subsequent violations penalized with fines of MVR 100,000, as well as enforced closure of the offending outlet for a period not exceeding six months.
On March 28, the first batch of emergency staple provisions from India arrived in Maldives. The shipment consisting of 933 tones of rice and 500 tonnes of sugar was sent from Tuticorin Port, Thoothukudi.
According to the Indian High Commission, an additional shipment carrying 1500 tonnes of rice and 500 tonnes of sugar had departed India.
It is estimated that Maldives' heavily tourism reliant economy will face severe repercussions as a result of the pandemic and experience a shortfall of approximately USD 450 million (MVR 6.9 billion) in foreign currency.
Presently, Maldives records 19 confirmed and six active cases of COVID-19, with a total of 13 recoveries. While there are two confirmed cases of Maldivians, no local to local transmissions have been recorded.
The World Health Organization has classified the spread of COVID-19 as a global pandemic. The novel coronavirus has infected over 1,098,400 people and claimed over 59,100 lives around the world. However, out of those infected, more than 228,900 people have recovered.