The Economic Ministry has announced new regulations to control the maximum retail prices of some necessity goods, which includes foods such as rice, flour and sugar, under the new buyers protection act.
As part of the new measures, the price of 1 kilogram of rice will be limited to MVR 4.80. Moreover, the price of 1 kilogram of sugar will be limited to MVR 4.82 and 1 kilogram of flour will be limited to MVR 3.80.
The maximum price of these goods sold across different regions of the Maldives, including the transportation fee and profit margin have also been set.
The Economic Ministry has also warned that necessary actions will be taken against sellers refusing to adhere to these new regulations.