Maldives Ports Limited (MPL) has confirmed it will be reducing export container fees. The operator of Male’ Commercial Harbor confirmed this in a recent statement.
With the confirmed revisions, MPL will charge MVR 1,132 for 20 ft containers. The company previously charged MVR 4,419. On the other hand, 40 ft containers will cost MVR 2,264 in export fees. The previous charge was at MVR 8,767.
According to MPL, with their price reductions, exporters can save up to 75% of their export costs.
MPL board decided to slice the prices to encourage local exports, and boost export volume. The decision will also promote the activities in the export sector.
“We will continue to collaborate closely with industry leaders to support economic growth and trade in our primary sectors,” MPL confirmed on Twitter.
MPL had earlier brought local fish exporters up to speed on the changes to export container fees. The corporation’s Chief Executive Officer Shahid Ali met with local exporters to discuss challenges in export procedures inclusive of costs. He had assured MPL will continue seeking, and providing solutions for exporters.