SUNBIZ

Energy Fiji Limited Records $96m Profit Despite COVID

EFL will payout about $2.268 million performance payout to staff and 5% pay increase to staff below management level.
21 Jun 2022 12:00
Energy Fiji Limited Records $96m Profit Despite COVID
From left: Energy Fiji Limited (EFL) Director Gardiner Whiteside, Attorney-General and Minister for Economy Aiyaz Sayed-Khaiyum, EFL Chief Executive Officer Hasmukh Patel and EFL Deputy Chief Executive Officer Chitoshi Fukuda during the EFL’s performance management announcement in Suva on June 20, 2022. Photo: Leon Lord

Energy Fiji Limited (EFL) recorded a $96 million profit before tax in 2021.

This was announced yesterday by the chief executive officer, Hasmukh Patel.

Mr Patel said despite the challenges of the global pandemic, 2020 and 2021 were profitable years for the group.

 

“Obviously we had to get our strategy right because our sales had fallen by 20%, but because the fuel price also fell we were able to capitalize on that, 2021 was a record year for EFL in terms of profitability,” he said

“We achieved a profit level of some $96million before tax and that is the highest ever recorded in the history of Fiji Electricity Authority or EFL.”

He added that the contribution by the employees during the pandemic was tremendous.

“Providing services during COVID- 19 was not an easy task, working in bubbles to provide services to our customers, but during these difficult times we rose to the occasion and our staff did a wonderful job.”

 

Performance Pay
Mr Patel also announced that EFL would payout about $2.268 million to its staff as a performance payout.

This he said would be paid out from Wednesday to all its employees.

 

Attorney-General and Minister for Economy Aiyaz Sayed-Khaiyum, Energy Fiji Limited chief executive officer Hasmukh Patel with EFL staff members following the announcement of a pay increment and bonus at the EFL headquarters in Suva on June 20, 2022. Photo: Leon Lord

Attorney-General and Minister for Economy Aiyaz Sayed-Khaiyum, Energy Fiji Limited Chief Executive Officer Hasmukh Patel with EFL staff members following the announcement of a pay increment and bonus at the EFL headquarters in Suva on June 20, 2022. Photo: Leon Lord

5% Pay Increment
EFL board has approved of a five per cent pay rise for all its employees below the managerial level.

“All the employees below the HOD level, they will get a 5% pay increase to their base salary backdated to January 1, 2022,” Mr Patel said.

Mr Patel added that the board recognised the difficulties that their employees were going through and that they had not had a pay rise since 2019.

 

Speaking during the announcement yesterday, Attorney-General and Minister for Economy Aiyaz Sayed-Khaiyum acknowledged the work carried out by the EFL staff.

“Today is a rather momentous occasion in the sense that the dividends paid out and profitability of the EFL,” he said.

“I want to highlight and emphasise to you how important the role that you play in the development of Fiji.”

He also told employees that the five per cent pay rise was at the back of the minimum wage that was being introduced and gazettered by the Government.

 

Feedback: inoke.rabonu@fijisun.com.fj



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