One of the country's leading manufacturing companies, Flour Mills of Fiji has welcomed the new wage regulation order however at the same time highlighted that the new regulation should result in a productive workforce.
FMF Group Chief Executive, Ram Bajekal said although the new wage order will be an extra cost apart from the increase in FEA tariff rates, they hope that the wage increase will bring in increased productivity in the workforce.
Meanwhile, Flour Mills of Fiji is still awaiting a reply from the Commerce Commission on their submission seeking an increase in the price of flour.
Speaking at the Stock Brokers briefing this morning Bajekal said the wheat price has gone up by 55 percent in June this year and they have no other choice but to seek a price increase.
FMF Group of Companies recorded a vast increase in their profit after tax of 11.6 million dollars this year after making a loss of 7 million dollars last year.
The Net Group revenue increased to 162.54 million dollars compared to 155.94 million in the previous year.
Story by: Shalvin Deo
FMF welcomes new wage regulation order
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