EFL Pays $20.7 Million In Dividends To Government
“As a major shareholder, Government is always pleased to receive the dividends,” Mr Prasad said.
Friday 21 July 2023 | 16:35
Deputy Prime Minister and Minister for Finance Biman Prasad receives the dividend cheque from EFL Board Directors Gardiner Whiteside on July 20, 2023. Photo: DEPTFO
Energy Fiji Limited yesterday paid government $20.7million in dividends as a major shareholder.
This was after they made a profit of $58.1 million after tax in the 2022 financial year.
In receiving the dividend payout from EFL, Minister for Finance Biman Prasad acknowledged and congratulated the board, management, and more importantly the workers of EFL for the splendid performance.
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“As a major shareholder, Government is always pleased to receive the dividends,” Mr Prasad said.
“As a new government, we are mindful, we understand the history of the organisation and its importance to the social economic fabric of society and we know that it is our responsibility to supply power, electricity to as many families as possible,” he said.
Mr Prasad said they were committed to continue the work left off by the previous government in terms of rural electrification.
“We are committed to 100 per cent Fijians accessible to electricity.
“$7.1million has been allocated for the grid extension programme. We want to ensure that everyone is accessible to electricity
“$3million has been allocated to Department of Energy for solar electrification in places where EFL cannot reach.
“We will continue to provide subsidies for our customers.”
Dividends were also paid out to the Sevens Pacific PTE Ltd and Central Share Registry. which are also shareholders in EFL.
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