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Govt: Best Shares Plan

The Government is considering the best options to divest its shares in several entities. Responding to a question from the Opposition, Acting Prime Minister Aiyaz Sayed Khaiyum said divesting shares
02 Dec 2014 10:46
Govt: Best Shares Plan
Acting Prime Minister Aiyaz Sayed-Khaiyum in Parliament yesterday. Photo: Ronald Kumar

The Government is considering the best options to divest its shares in several entities.

Responding to a question from the Opposition, Acting Prime Minister Aiyaz Sayed Khaiyum said divesting shares would help improve efficiency and value of the companies.

He said Government was already considering divesting shares in;

– Airports Fiji Limited (AFL)

– Fiji Ports Corporation Limited

– Fiji Electricity Authority

– Fiji National Provident Fund

Mr Sayed-Khaiyum said divesting company shares by Government had been practiced by successive Fijian Governments since Independence.   The Fiji Ports Terminal Limited was an example of how effective the divesting of shares could be for the Government.

According to international media reports, since new managers Aitken Spence took over port operations in Suva and Lautoka, inefficiencies had been slashed.

“ since taking over management control of the International Fijian ports of Suva and Lautoka in July last year has increased ship crane productivity by 70 per cent. Aitken Spence has also reduced berthing delays from between 12 to 18 hrs to 0.50 hrs on average while equipment downtime has been reduced by 60 per cent, according to a company statement, “ stated one report with the Business Times.

The Acting Prime Minister was responding to a question from Social Democratic Liberal Party (SODELPA) parliamentarian Mosese Bulitavu.

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