The interim government will divest its shares in Copra Millers Fiji Limited.
An independent valuation will be undertaken to determine the purchase price and terms and conditions of sale before an expression of interest is invited.
The cabinet today based its decision on a submission by interim Minister for Primary Industries Joketani Cokanasiga.
Cokanasiga said the CMFL which is currently managed by the Coconut Industry Development Authority had been making a loss for the last 7 years, averaging $200,000 a year.
This is despite government giving them a grant of $700,000.
The government through Coconut Industry development Authority owns 94% of the company with the remaining 6% shareholding held by minority shareholders.
Govt To Divest Shares In Millers
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