Minister of Economic Development and Trade Mohamed Saeed has defended the government's handling of rising commodity prices and foreign currency shortages.
Responding to the no-confidence motion in Parliament, Saeed pointed to an increase in the volume of foreign currency issued to the public at the official rate since the current administration took office. He stated that disbursements under the present government exceeded those of the previous administration over a comparable period, describing the rise as substantial.
On the cost of goods, Saeed attributed import clearance difficulties to limited capacity at Male' Commercial Harbour and noted that the current government is proceeding with port expansion plans that previous administrations had not advanced. He also said the government has decided to increase strategic reserves of essential food items in response to global price volatility.
The minister's remarks came during debate on the opposition motion that was later rejected. Opposition MPs have continued to criticise the black-market dollar rate and its effect on living costs.
