Tuesday, February 27, 2024
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Poor investment choices by the FijiFirst Govt: Prasad

Minister for Finance Prof Biman Prasad says the FijiFirst Government, continued to make poor investment choices without any cost benefit analysis during its time in office.

Speaking in Parliament, the Deputy Prime Minister said they (FijiFirst) had built costly rural hospitals, remote roads and multi-million dollar police stations, even with the lack of finances to equip or maintain them.

Prof Prasad highlighted that the FijiFirst Government spent ridiculous amounts of money on the Fiji’s national broadcaster, the Fiji Broadcasting Corporation and Walesi.

“FBC got more than 90 million over 10 years and in lease costs for new Government vehicles. In the last 10 years, Government have added 8,000 more public servants to the Government payroll-rising costs and salary bills but no sound and sensible solutions to increase income.”

The Minister for Finance highlighted that the Bainimarama Government offered the most generous cash incentives in the world to international film producers.

Prof Prasad said the previous government had not reduced taxes to these companies but paid $200 million so far in the last 10 years and another $200 million that is pending.

“There is another $200 million to pay – This sum is not in the Government debt figures – that is on top of the money the Government already owes. If this isn’t wastage, pilferage and mismanagement of funds, then what is?”

Prof Prasad added that as Government debt grew larger, the previous Government ignored all the warnings.

“They were warned that we were not ready for an economic shock. The previous Government spent like there was no tomorrow,” he said.

Ilaitia Ravuwai
Ilaitia Ravuwai
Journalist | news@fijilive.com


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