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Acting PM Announces PAFCO’s Bonus Payout

Acting Prime Minister, Aiyaz Sayed-Khaiyum yesterday announced a $271,813 bonus payout for Pacific Fishing Company Limited (PAFCO) workers. “Not withstanding the challenges, they have actually allocated the bonus to the
30 Mar 2017 10:01
Acting PM  Announces PAFCO’s Bonus Payout
Acting Prime Minister and Attorney-General Aiyaz Sayed-Khaiyum. Photo: Selita Bolanavanua

Acting Prime Minister, Aiyaz Sayed-Khaiyum yesterday announced a $271,813 bonus payout for Pacific Fishing Company Limited (PAFCO) workers.

“Not withstanding the challenges, they have actually allocated the bonus to the staff which I think is the recognition of their hard work,” says Mr Sayed-Khaiyum.

Chairman, Ikbal Jannif, said the board recognised the hard work by the workers and decided to recommend bonuses to be paid to  the staffs.

Despite the two years of sustainable losses in 2010 and 2011, Pacific Fishing Company Limited (PAFCO) turned around and has been consistently making reasonable profits in the last few years.

 

PAFCO is also investing on a $15 million cold storage freezer which is expected to operate in few months.

Mr Sayed-Khaiyum said: “The $15 million cold storage freezer, is actually being put in to Levuka  shows not just a need for PAFCO to have that level of investment in that facility but also shows the confidence that the Government has with the management and the staff that they will be able to provide the rate of return on that particular level of investment.”

PAFCO also provides employment to mostly the people of Lomaiviti.

Mr Sayed-Khaiyum added that PAFCO have approximately $8 million worth of salary paid out ,and mostly the people of Lomaiviti are being employed, so there’s about an $8 million injection for funds just mainly through wages into the eastern part of Fiji.

Feedback:  selita.bolanavanua@fijisun.com.fj

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