STELCO cuts fuel surcharge

State Electric Company (STELCO), on Monday, cut all fuel surcharge after the reduction in prices of petrol and diesel.

Speaking at a press conference held on Monday, STELCO’s deputy managing director Mohamed Latheef stated that the company is cutting fuel surcharge following the reduction in prices of fuels, relieving a combined MVR8.54 million from its customers.

Latheef said after the fuel surcharge cut, the reduced electricity bill would be evident from August.

STELCO had taken fuel surcharge at the rate of 0.34 laari per unit.

State Trade Organisation (STO) had earlier reduced the prices of petrol and diesel and capping on MVR 8.44 per litre.

The bill to make amendments to export and import regulations in order to lower the duty on fuels; petrol and diesel was submitted by the ruling Progressive Party of Maldives (PPM) chief government lawmaker Ahmed Nihan Hussain and was accepted by the parliament.