In a significant development for relevant landowning units, the Fiji Hardwood Corporation Limited (FHCL) has paid out $879,730.69 to the Government.
Minister for iTaukei Affairs, Ifereimi Vasu accepted the cheque from FHCL, Iowane Naiveli yesterday.
The payment received was for the first half of lease rental for 2024 and stumpage fees for 2023 from the 75,223 hectares of plantation estate of which 41,325 hectares consist of mahogany.
While accepting the cheque, Vasu thanked FHCL for its inspiring performance and encouraged the company to engage more with landowning units.
With an emphasis on economic empowerment for resource owners and enhanced vanua stability, the Minister urged FHCL to reach out and explore innovative partnerships for the betterment of landowning units.
“Today’s handing over ceremony supports and reinforces the approach we are taking towards empowering the LOUs”, said Vasu.
He is confident that this would continue under the Coalition Government’s strategic direction for the iTaukei and he would continue to work towards improving the economic position of the iTaukei.
The lease rental is advance payment for the next 6 months and for the first time in 5 years FHCL has updated the stumpage payment fees for landowning units.
“Simple practical steps taken by the Coalition Government to reform the mahogany industry is already yielding significant results. The upcoming review of the mahogany industry will further enhance this”, added Vasu.
The handing over ceremony was held at the iTaukei Land Trust Board.
