President Dr. Irfaan Ali pledged significant interventions to tackle the cost of living over the next five years, with a focus on essential services such as energy, water, transport, food, and housing.
He was addressing the country in a live broadcast on Facebook on Sunday.
With a clear priority on affordability, the President announced:
A 50% reduction in the cost of electricity and cooking gas
No new taxes or tax increases in the next term
Free water and healthcare services, especially for the vulnerable
Expansion of free education and removal of all associated school costs
Free transportation support for pensioners, schoolchildren, and hinterland residents
President Dr. Irfaan Ali
“Cooking gas is not a luxury—it’s an essential service,” Dr. Ali said, revealing plans to reduce a cylinder of cooking gas to $1,000.
Transportation costs will be tackled through new ferries and cargo boats, subsidies for farmers, and regional ferry infrastructure. Free transport for students and the elderly, and new market access routes, are also part of the national plan.
He reiterated that the reduction of these essential living costs is not just a welfare matter, but a long-term economic strategy: “When we cut these costs, we lift families. When we lift families, we grow the nation.”
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