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Economic Minister Mohamed Saeed rejected claims by opposition leader Mohamed Nasheed regarding rising living costs and inflation ahead of a planned MDP protest on August 12. Saeed compared regional fuel and commodity prices to highlight local price stability despite global pressures.
News Desk
Economic Minister Mohamed Saeed speaking to press in a previously held conference - Photo: President Office
Economic Minister Mohamed Saeed released a video statement countering opposition MDP Chairperson Mohamed Nasheed’s criticism of rising commodity and fuel prices ahead of scheduled street demonstrations.
Minister of Economic Development and Trade Mohamed Saeed responded to opposition claims regarding living costs following MDP’s announcement of a national protest scheduled for August 12.
MDP Chairperson and former President Mohamed Nasheed announced the protest during a National Council meeting, citing public difficulties related to price increases. Saeed noted in a video statement that August 12 and 13 historically trigger political actions from the opposition party.
Addressing claims regarding basic food prices, Minister Saeed stated that global conflicts have impacted energy costs worldwide, yet local fuel prices remain low compared to regional markets.
Regarding essential items like infant milk formula, Saeed clarified that a 300-gram tin of Lactogen currently sells for MVR 130 at major importers like MHA. He also addressed concerns regarding beef prices, explaining that market rates fluctuate based on quality, origin, and cut.
“The price of beef can vary depending on the quality, how it is cut, and the country it is imported from,” Saeed explained. “Commonly consumed beef is different from those specialized products.”
Saeed accused the opposition party of using economic figures to mislead the public for political gain.
“The MDP always wants to harm the public. They are making these statements purely to achieve political objectives,” Saeed claimed.
The minister concluded by emphasizing that the government continues to manage inherited national debts and stabilize the economy, arguing that the opposition ignores these fiscal efforts.
