SUNBIZ

FEA Divestment Goes Through Vetting

With the expression of interest for the divestment of Fiji Electricity Authority now closed, Government is going through the vetting process. Attorney-General and Minister for Public Enterprises, Aiyaz Sayed-Khaiyum, confirmed
29 Aug 2015 11:00
FEA Divestment Goes Through Vetting
Attorney-General and Minister for Public Enterprises, Aiyaz Sayed-Khaiyum.

With the expression of interest for the divestment of Fiji Electricity Authority now closed, Government is going through the vetting process.

Attorney-General and Minister for Public Enterprises, Aiyaz Sayed-Khaiyum, confirmed they now have to vet through the applications and interview the people who applied.

“We will analyse what they want to contribute, how they want to contribute and perhaps even get people to put in or come with a consortium,” he said.

Mr Sayed-Khaiyum stressed at the end of the day, it is not just about divesting shares.

“It is about how this organisation can be modernised, what better management skillsets can be brought in and also in terms of positioning it for the future,” he said.

 

Other divestments

The expressions of interest for the divestment of a number of other state-owned enterprises are now closed as well.

Mr Sayed-Khaiyum said they have identified some people for Government Printery but are waiting for their final proposals to Government.

As for Fiji Ports Corporation, he said they have also finalised parties but are waiting for their proposal in terms of the shareholders agreement and port development plan.

“This is very critical because part of the conditions we laid is they need to have a plan for port development. All these things are in state of play at the moment,” he said.

No timeframes have been given for any of the state-owned enterprise divestments.

 

Objective

Permanent Secretary for Industry, Trade and Tourism and acting Permanent Secretary for Public Enterprises, Shaheen Ali, said the objective of divestment programme was not privatisation.

“It is to get international or domestic players with more experience in these key utility service providers,” he said.

“At the end of the equation, we want better services for the Fijian people. The aim is to ensure more quality delivery from these enterprises.

“We are not privatising or relinquishing control.”

He stressed they were mindful that if shares of these entities were being sold, then it was important to get the right price.

“So this is why it takes some time to ensure this divestment happens,” he said.

Feedback: rachnal@fijisun.com.fj

 

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