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Electricity price slashed in line with electoral pledge: President

President Ibrahim Mohamed Solih has revealed the price of electricity has been slashed since the first day of the month, in line with his electoral pledge.

Speaking at an event held at President’s Office regarding the pledges completed in the first 100-days of the administration, President Solih highlighted the rates in the capital, Male’ City, and other islands would be even with the change in the prices. In this regard, the president expressed the tariffs in the domestic category, counting from 400 units and upwards, will be similar throughout the country. 

Previously, the prices ranged from island to island and region to region across the country. President Solih said the changes were brought as part of the efforts to decrease the expenditure on utility bills which has been a burden for most citizens for a number of years.

The administration has also decided to decrease the rates allocated for business enterprises, which the president said was part of the effort to boost small and medium sized enterprises and ensures those entities save on the expenditures and increase the amount of profit generated.

Furthermore, President Solih revealed the administration has also decided to slash 5 percent from import duty on diesel, adding the citizens will be subject to a fuel discount in the coming days.

The president said the aim of the administration is to transform Maldives as a country which generates energy from renewable and environment friendly energy sources. The president said the administration will prioritise generating electricity by utilising solar panels, which will further decrease the expenditure on power generators and fuel. He said it will further decrease the expenditure on utility bills by the citizens.