Saturday, April 20, 2024
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EFL pays out $20.7m in dividend to Govt

The Government has received $20.7 million as dividend from Energy Fiji Limited.

EFL has recorded a $58.1 million profit after tax, despite 2022 been a challenging year for the company.

Minister for Finance, Professor Biman Prasad congratulated the EFL Board, Management and the hard-working staff on the performance carried out in its service to the people.

EFL also paid out $17.9 million to Sevens Pacific PTE Ltd and $2.03 million to the Central Share Registry.

Prof Prasad said the Coalition Government will continue to work towards ensuring there is reliable and affordable energy supply for all, especially for homes in the rural areas.

“Government must be mindful, and must understand the history of the organisation – its critical importance to the social economic fabric of our country.”

“The supply of electricity is critical for the economy and our people. On the Government’s part, it has always been the responsibility of the Government to supply electricity to as many of our families as possible.”

He said the Government’s long held strategy includes supporting grid extension, rural electrification, and ensuring that homes are properly wired and connected to the electricity grid system.

$7.1 million has been allocated for the grid extension project, $4.1 million will be payable to EFL.

Prof Prasad said as a Government, they want to accelerate and ensure that there is a quicker way of supplying electricity to achieve the target of 100 per cent of Fiji’s population having access to affordable and reliable electricity.

“In addition, the Department of Energy has been allocated $3M to continue with the installation of solar home systems for households in remote and maritime areas that are inaccessible to the EFL grid.”

Meanwhile EFL CEO, Hasmukh Patel is encouraging customers who wish to be shareholders with the organisation to do so as applications are free of charge.

Ilaitia Ravuwai
Ilaitia Ravuwai
Journalist | news@fijilive.com

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