STO

MPs of Progressive Party of Maldives (PPM), Maldivian Democratic Party (MDP), and Jumhooree Party have claimed that prescription drugs are often overpriced by State Trading Organisation (STO).

The MPs said this during a debate regarding an issue submitted to the Parliament Public Accounts Committee by the Shaviyani Atoll Council, seeking a solution to the problems arising due to STO’s decision to open pharmacies in every inhabited island.

The establishment of STO pharmacies in the islands has resulted in pharmacies operated by councils in those islands having to shut down.

During the debate on this issue at the committee meeting, Maradhoo MP Ibrahim Shareef said, “Medicine prices in Maldives are higher than that in India, that is, the highest retail prices in Indian Rupees, including local taxes in India.”

He argued that instead of opening pharmacies in every island, STO should provide medicine to the islands via the councils.

Eydhafushi MP Ahmed Saleem said that STO “does not sell anything at low prices”.

“We have to find out where from, and at which prices, STO buys medicine; as well as their profit margin,” said Saleem.

Mathiveri MP Hussain Mohamed said that the rumours regarding STO’s overpriced medicine must be investigated.

Managing Director of STO, Adam Azeem, when asked about this issue, told Sun Online that it was never STO’s intention to charge high prices for medicine, and that interested groups can obtain information on the prices at which STO buys medicine and sells them to the public.

At the committee meeting, Gadhdhoo MP Ahmed Rasheed said that the establishment of STO pharmacies in islands is beneficial for the public, and urged STO to continue these efforts.

He added that despite the existence of STO pharmacies, private groups still have the opportunity to operate pharmacies in the islands.

MDP’s proposition to summon officials of STO to the committee in order to make a decision on the issue submitted by the Shaviyani Atoll Council did not receive enough votes in favour to be passed. The committee and thus decided that it will not respond to the council's letter.