STO promises price drop of staple goods

State Trading Organization (STO) has assured that a good change would be coming to the price of staple goods soon.

Government subsidies were always being given on staple goods until last year when the subsidies were cut off skyrocketing the price of staple goods.

A kilogram of rice previously sold for MVR 3.98 jumped to MVR 7.96 along with the price of sugar from MVR 4.50 to MVR 8 and flour from MVR 3.50 to MVR 5.96.

The jump in prices also affected the inflation rate of the country.

In a special interview with Sun Media, the Managing Director of STO, Ahmed Shaheer said that numerous efforts are being made by STO to reduce the price of staple goods in the country.

And so, when the current contract to import staple goods are up, good chances would come to the price in the new contract.

He said that the date of the low-rate shipment and the new prices would be announced at a later date.

Shaheer said that STO was founded to provide basic goods and services for the people and the company is working to gain profit by providing services and goods with accessible prices.