As a result of fuel prices increasing earlier this month due to global demands and Fiji's fuel import bill being too high, the Reserve Bank Governor said our fuel import must be brought down now.
Sada Reddy said we need to try and reduce fuel imports by $100 million per year in the next three years.
Reddy said to achieve this, the government must look in the direction of renewable energy and encourage energy conservation practices.
The Governor added Fiji must explore foreign investment in renewable energy projects, extend 10 year tax holiday as for bio fuel producers to renewable energy producers.
He also said the government's rural electrification project to be based on renewable energy concepts while RBF will examine providing special financing to banks for renewable energy.
Fuel imports must decrease: RBF Governor
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