The future of the Fiji Sugar Corporation which has been under-performing for some time with multimillion dollar loans and government guarantees is now being assessed before the final decision is made on the best way forward.
Speaking to Fijivillage from Lautoka, Prime Minister, Commodore Voreqe Bainimarama who was briefed by the board and management of FSC yesterday, said the Deloitte report on the performance of FSC will be thoroughly discussed to map out FSC's future.
Commodore Bainimarama said any steps taken would have to be assessed carefully based on the number of people depending on the sugar industry.
He confirmed that one of the proposals include the privatization of FSC however he stressed that these need to be analysed.
Commodore Bainimarama also confirmed that FSC has huge liabilities and he said that they are also assessing what the Corporation would do next after it was temporarily de-listed from the South Pacific Stock Exchange due to a lack of working capital for the next 12 months.
The Prime Minister said they hope that the sugar industry, including the FSC, can bounce back and deliver positive results for the people involved and the country as a whole.
Story by: Vijay Narayan
