Maldives Government drops electricity price

Maldives Government drops electricity price

SAM Staff,

The price of electricity being provided nationwide by the government companies has been received.

Speaking at a press conference at the PSM Radio Building on Sunday, The Minister for Environment and Energy, Thoriq Ibrahim said that the government has decide by 1d to lower the price of electricity by ten to 15 percent starting this month and will be effective in the next bill.

Minister Thoriq said change is due to the drop in oil prices and the reduced import duty of oil from ten to five percent. The Minister said that the bringing down the import duty will bring productive changes to all sectors using the oil.

Thoriq said that the most benefit aside from the people is the tourism and the fisheries industry.

The price drop in electricity also include businesses as well according to Minister Thoriq.

The Managing Director of the FENAKA Corporation, Ahmed Shareef also spoke at the press conference saying that over 50,000 households are using electricity from FENAKA Corporation and next bill to all those houses will have a price reduction of ten to 15 percent. The exact reduction will be announced in the near future.

Deputy Managing Director of the State Electric Company (STELCO) Mohamed Latheef said that they would be providing a price reduction in that range to the islands they are providing electricity. And the company aims to provide electricity the best way possible.