President Dr Mohamed Muizzu has pledged to resolve medicine shortages within the next two to three months, describing the difficulties as a deliberate response by private businesses affected by the Government’s efforts to reduce wasteful spending under Aasandha.

Speaking at the official ceremony commemorating the 61st Independence Day of the Maldives, the President said some privately imported medicines had been sold at profits of more than 2,000 per cent when he assumed office. He added that Aasandha had been spending large amounts each year to purchase those medicines.

The Government subsequently introduced maximum retail prices for medicines purchased through Aasandha. The President said the policy has saved more than MVR 500 million in public funds annually by reducing excessive profits and financial leakage within the scheme.

He described the pharmaceutical sector as being controlled by a “mafia” and alleged that private businesses had taken retaliatory measures after the Government began reducing wasteful Aasandha expenditure. These actions had deliberately created shortages and placed the public in difficulty, he said.

The President said the Government established StatePharma to address the challenges caused by the pharmaceutical sector. Work currently being carried out by the company is expected to resolve the shortages within the next two to three months.