Overpriced sale of controlled goods to be reported

Economic Ministry has once again requested to report any sale of controlled goods that are overpriced.

The ministry has announced that it will be taking steps against businesses that increase the price of goods controlled through the law. The price of these goods is maintained at a certain rate by the government, and the sale of such goods at a higher price is a violation of the laws related to consumer and producer protection of the Maldives.

Businesses could be fined by MVR 100,000 on the first instance for overpricing. For repeat violations, the fine will remain the same, however, the ministry has the discretion to order the closure of the business for a period no longer than six months.

To report such instances of overpriced sale of goods, the ministry requests to email [email protected].

The government has moved to control the price of some goods in the country. Staple goods such as rice, flour, and sugar are controlled. The Economic Ministry has also moved to control the goods of items such as onion, potato, turmeric, dal, and eggs due to an increase in price.

The highest a kilo of potato or onion can be priced in an inhabited island of the country is at MVR 20. Turmeric and dal are to be sold by MVR 45 per kilo. The price of a single egg is controlled at MVR 1.80.