Reduce investment threshold: Tubuna tells FNPF

Fiji National Provident Fund should enable greater participation with itaukei businesses, Assistant Minister in the Office of the Prime Minister, Sakiusa Tubuna said. 

During Parliament debate on the Consolidated Review Report of the FNPF 2023 and 2024 performance, he said the fund needed to revisit its investment threshhold to create space for medium-sized enterprises, particularly those driven by itaukei owners.

Under the current investment framework, FNPF considered business propositions valued at more than $30million, a threshold that was unrealistic and exclusionary, he said.

“To get itaukei to be involved in commercial business enterprise, there should be a new policy developed by the FNPF Board on Medium Enterprises with a threshold of $10 million,” Mr Tubuna said.