The newly appointed Managing Director of State Electric Company Limited (STELCO) Mr. Ahmed Shareef assures that the consumers will not experience a surge in utility prices.
Moreover, he had claimed that the incumbent President of the Republic of Maldives Mr. Ibrahim Mohamed Solih’s policy ensures that necessary services such as utilities (electricity, water, and even internet) will remain under fixed price ranges.
While responding to queries from local media regarding the possibility of a price hike in electricity in light of the price inflation of crude oil in the global market, Mr. Shareef assured that STELCO will remain dedicated to providing services to the consumer base in line with the policies of Maldives President, and thereby, the government.
Furthermore, Mr. Shareef revealed that STELCO receives oil from State Trading Organization (STO) under a special concession – relatively cheaper than the standard market rate.