The Fiji Islands Revenue and Customs Authority is reconsidering its contract on the new Fiji National Provident Fund Nasese complex.
Interim Minister for Finance and National Planning Mahendra Chaudhry had ordered an investigation into the matter and its findings revealed that the Nasese complex is now 12 months behind schedule with construction costs likely to escalate to $30.5 million.
Meanwhile the original estimate was $20 million and FIRCA's main concern is that under the tenancy contract with FNPF, it had agreed to pay a rental fee of seven percent of the total cost of the project.
Chaudhry said that with the costs already ballooning to $30.5 million, FIRCA would be forced to pay a ridiculous sum of $2.2 million or more in annual rent.
FIRCA reconsider contract
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