The Fijian Broadcasting Corporation has reduced its reliance on the Public Service Broadcast fee.

This was disclosed by FBC Chief Financial Officer Vimlesh Sagar while responding to questions on their 2018-2023 audited financial reports to the Standing Committee on Economic Affairs this morning.

The PSB is the annual Government payment to FBC in exchange for providing public broadcasting services on its two radio stations, Radio Fiji One and Radio Fiji Two and FBC TV.

FBC Chief Financial Officer Vimlesh Sagar 

According to Sagar, FBC’s reliance on PSB has dropped massively from 64 percent to around 30 percent.

He adds that the whole mindset is to build a business and make FBC self-sustainable.

“You’ll notice that in the 2018 audited report, FBC was provided a public service broadcast fee amounting to 11,277,400. This was for two radio stations and for television station. The sum was provided for 2018, 2019, 2020, and 2021. In 2022, you’ll notice there’s a decline, and when the new board of directors were appointed in the 2022 financial year, and on their own prerogative, in the board’s discretion, the sum was reduced.”

Sagar says that FBC’s 2022 gross income of around $20.6 million, and with the reduction in PSB fee, equated around $3.2M annually

“This figure has been reflected in the gross income and the profit figure for the 2024 and 2023 financial years. 2024 financial years is the total effect that has been shown. Profit after income tax for the 2023 financial year is sitting at 3.4 million, and the PSB foregone of 3.2 million in the 2024 financial year, and is still reaching a profit of 555,000 is a milestone achievement for the FBC as an entity.”

Committee Chair and Assistant Minister in the Office of the Prime Minister Sakiusa Tubuna acknowledged FBCs commitment to self-sustainability highlighting the vast opportunities available to not rely on fees received from Government.

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