The way forward for getting the maximum return from Fiji mahogany has been set which sees the issuance of licenses to companies that want to buy mahogany, value adding to get better returns and the reorganization of the Fiji Hardwood Corporation Limited.
Attorney General, Aiyaz Sayed-Khaiyum said numerous expressions of interest have been received for licenses and Prime Minister and Chairman of the Fiji Mahogany Council, Commodore Voreqe Bainimarama will approve and issue the licenses when he returns from Vietnam.
Sayed-Khaiyum said with these proceeds, the government can address the substantial debts of FHCL which stood at approximately 26 million dollars in January this year.
Of this amount, the government has guaranteed over 62 percent or almost 16.8 million dollars.
The Attorney General also reveals that FHCL is currently lagging behind in repayments to FNPF.
An interim FHCL board has been appointed comprising of Permanent Secretary for Public Enterprises, Elizabeth Powell as Chair, Permanent Secretary for Fisheries and Forests, Commander Viliame Naupoto, Permanent Secretary for Industry and Trade, Saipora Mataikabara and Deputy Solicitor General, Sarvada Sharma.
The interim board will reorganise the management of FHCL.
He said this is to ensure that FHCL which is a public owned entity carries out it work effectively.
Story by: Vijay Narayan
Way forward for Fiji mahogany determined
Related Stories
We are committed to holding elections – Siromi Turaga
Questions were raised during Dialogue Fiji’s Constitution review discussion on whether the government can delay the general elections and complete the Constitution review however Acting Attorney General Siromi Turaga
Fijian economy on track to grow for fourth consecutive year in 2025 by 3.4%
The Fijian economy is on track to grow for the fourth consecutive year in 2025 by 3.4 percent, following a 3.5 percent expansion in 2024. The growth forecast is revised up marginally from the 3.2 percent projected
Heavy Rain Alert for Eastern Viti Levu, Southern Bua, Cakaudrove, Taveuni and maritime areas
A heavy rain alert is now in force for the eastern half of Viti Levu (Navua–Suva–Nausori to Serua–Namosi to Tailevu–Naitasiri–Ra areas), southern Bua, Cakaudrove, Taveuni and nearby smaller islands, the Lau an
We need to dismantle criminal enterprises, hitting them where it hurts most - Speaker
Speaker of Parliament, Filimone Jitoko has highlighted during the opening of the Office of the Director of Public Prosecutions Conference that there is a need for prosecutors in the country to master the digital frontie
Fiji has learned from its past and we know that restricting media engagement or access is not the answer - Tabuya
At all times, the public interest in accessing information and the media’s role in scrutinising government must outweigh any unilateral power to silence or sideline a news outlet. In Fiji, we uphold the principle that
Wailea resident raises concerns about drug issues raised countless times with Police while COMPOL says official complaint must be lodged
Wailea Settlement Community leader, Inoke Utona says he has raised the issue of drug use and dealing in their area countless times with the authorities but there has still been no response from Police. However when