The Fiji Sugar Corporation has confirmed that cane farmers will receive a special cane payment next Monday.
Executive chair Abdul khan confirmed to FBC News that cane farmers will receive $2.80 per tonne for the last crushing season.
According to Khan this special cane payment is being arranged following the visit of the Sugar Minister and Prime Minister Voreqe Bainimarama who was in the Western division last week.
Khan says Bainimarama floated this idea to the FSC and the Sugar Cane Growers Council saying the current hardship and the drought in all cane built areas must be accounted for.
He says the special cane payment will lower the burden on cane farmers and allow them to celebrate Diwali. Source: FBC News
PM inks legal agreement to divest shares in Fiji Ports Corporation with "OUTSIDER" Aitken Spence from Sri Lanka getting 20 per cent of shares in the consortium valued at $100million; FNPF to own 39 per cent
The legal agreements were signed today by the Prime Minister Voreqe Bainimarama, and the consortium comprising representatives of FNPF and for the partial divestiture.
Mr Bainimarama said the transaction was a great step forward in the Government's asset sale divestment.
Government will maintain 41 per cent of the shares in FPCL, while FNPF will own 39 per cent and Aitken Spence 20 per cent.
Following the divestment, 80 per cent of the shares in FPCL will remain Fijian owned.
Under the agreements, Government will receive more than $100 million for 59 per cent of the shares in FPCL. The consortium of FNPF and Aitken Spence will pay $99,112,330, and the Government will also receive approximately $3.3 million from the sale of land to Fiji Roads Authority for the realignment of the road and bridge at Stinson Parade, Suva and $2.38 million from the repayment of an inter-company loan.
Minister for Public Enterprises Aiyaz Sayed-Khaiyum said the Government's objective for the divestiture is to secure the partnership of a long term investor in FPCL that would contribute to the development and growth of FPCL's asset base and continue the improvement of Fiji's sea ports, including their expansion, modernisation and development of specialised facilities.
As part of the agreements, FPCL will transfer all real estate to a government holding company, which in turn will lease the assets necessary for port operations back to FPCL. Ownership of all land interests will remain with the Fijian Government. Source: Fiji Times