Economic Ministry controls prices of certain food items

Economic Ministry has controlled prices of some staple food items.

According to the Economic Ministry, considering the current economic condition, the ministry has decided to control prices of certain food items effective from April 6 under the consumer protection act.

Price-controlled food items:
• The maximum price that can be charged for one KG of regular onions, across the residential islands: MVR 20
• The maximum price that can be charged for one KG of regular potatoes, across the residential islands: MVR 20
• The maximum price that can be charged for one KG of yellow split peas, across the residential islands: MVR 45
• The maximum price that can be charged for one white egg across the residential islands: MVR 1.80

The Ministry stated those who sell the price-controlled food items higher than the prices that have been quoted by the ministry, will be fined up to a maximum MVR 100,000 and if repeated, up to a maximum of MVR 100,000 will be charged as a fine per offence. Furthermore, the premises will be closed for a period, not more than 6 months.

The ministry controlled the prices of those food items amid price surge in the markets due to panic buying owing to COVID-19. As such, the price of an onion KG is sold at MVR 30 while 1 KG of potatoes is sold for more than MVR 20 whereas, an egg is sold at above MVR 2.