State Trading Organization (STO) has confirmed that it is currently working to open an outlet in Hulhumale’ Phase II ahead of the Islamic sacred month of Ramadan.
Ramadan is the ninth month in the Islamic calendar and is observed by Muslims all across the globe as the month of fasting. It is also the month when consumer activities observe a noticeable surge; especially with perishable goods and staple foods.
STO said that it has been receiving complaints from residents of Hulhumale’ over the lack of its outlet on the island. STO’s Hulhumale’ outlet in Phase I was closed down earlier for renovations and has not opened yet. Moreover, many general consumers have raised concerns over the possible surge in prices of fast-moving or high-demand commodities during Ramadan; such as potatoes, onions, and eggs.
The largest state-owned enterprise and also one of the largest retailers in the country, STO, is currently developing a shop outlet in Hulhumale’ Phase II to alleviate the worries of consumers over possible price surges.
According to Husen Amr, the Managing Director of STO, the new outlet will be opened during Ramadan; coinciding with the end of March. The outlet will provide both wholesale and retail services and will provide all the major products available from its other outlets.