$487 mn spent on oil last year, says minister
Speaking at a function held to mark the closing of the Project for Clean Energy Promotion in Male, the minister said that 31 percent of the country’s GDP had to be spent on oil purchase last year. “The amount spent by the government and private parties on importing fuel has always been very high,” he said. Thoriq stressed that the increased expenses on obtaining fuel has an adverse effect on the Maldivian economy. He said that it was important to find a source of renewable energy and cut down on fuel expenses in order to develop the country. On that note, the minister explained plans of installing additional solar panels that can generate eight megawatts of electricity. The government aims to set up solar panels that can generate 40 kilowatts of electricity at the end of the five-year term, he added. Under the clean energy project, solar were installed in several government buildings.
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