FNPF board requests additional funds to complete Natadola Project
Village has received confirmation that following various changes in the orginal plans for the hotel project, it has been estimated that more money may have to be sourced from the FNPF, if the project is to be completed.
A request has been made to the FNPF board to provide the additional funds, and who have brought in evaluators to establish the actual cost which will be incurred to see the project through.
When contacted on the matter this afternoon, FNPF Chief Executive Officer, Aisake Taito said all he can say is that their technical people are assessing adjustments required to complete the Natadola Project.
Natadola Bay Resort Limited Chairman Felix Anthony is currently overseas and could not be reached for a comment.
Meanwhile, the FNPF borad is now drawing up an action plan after certain discrepancies were highlighted in an audit report, into various investments by the previous board.
The FNPF confirms that the Audit report highlighted the need to review and re-align the Fund's policies in relation to making investment decisions. The FNPF Board has also approved further investigations by auditors Earnest and Young, on key areas such as purchasing and procurement and private equity funds.
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