Minister of Finance and Planning, Moosa Zameer, has stated that the Government is taking extensive measures to ensure the uninterrupted supply of fuel and gas to the Maldives and to prevent price increases despite rising global costs.

The minister made the remarks during a press briefing held today by a special Cabinet committee formed by President Dr Mohamed Muizzu to assess the potential impacts of the ongoing conflict in the Middle East.

Minister Zameer said the Government is implementing arrangements to ensure the public does not face difficulties as a result of the regional situation. He noted that global prices for oil and gas have risen significantly due to the conflict triggered by attacks on Iran led by the United States and Israel.

He acknowledged that the price of fuel imported to the Maldives has also increased compared with previous rates. However, the Government plans to introduce measures to prevent further price hikes domestically. This includes providing subsidies to the State Trading Organisation (STO) and reducing the company’s profit margins to keep fuel prices stable.

Minister Zameer assured that there are no immediate concerns regarding fuel availability in the country. He said a large fuel shipment procured by STO in January is currently en route to the Maldives and is expected to arrive in Malé within the next four to five days.

He added that arrangements are also being made to load another fuel shipment, which will be dispatched to the Maldives soon.

Speaking on the broader supply situation, the minister said the Government is also exploring additional sources to procure fuel and gas. On this note, Foreign Minister Dr Abdulla Khaleel noted that discussions with several countries have produced encouraging signals regarding supply arrangements.