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Deputy Prime Minister and Finance Minister Professor Biman Prasad has reiterated the government’s commitment to striking a balance between protecting local industries and ensuring affordable prices for Fijian consumers.

Speaking at the Post-Budget Forum, Professor Prasad emphasised that economic support measures such as tariff protections and duty reductions are designed to benefit Fijians.

Nadi businessman Chandu Lodhia voiced concerns about the rising prices of essential goods, blaming strict import regulations and dependence on expensive suppliers.

Some businesses have thrown in some ideas, and you have addressed those issues in the budget. So my question would then be, are we confident of achieving what you have laid out in the budget?

In response, Professor Prasad acknowledged that many biosecurity rules created long ago no longer suit today’s complex global food supply.

“We are saying to the biosecurity authority of Fiji, we understand the reasons why these laws or restrictions would have been placed 40 years ago or 30 years ago, because at that time, the product line and the substitution effect of products were perhaps not that complex, not that advanced, and not that diversified. Now, it is diversified.”

Professor Prasad also says the government expects protected local industries to balance the support they receive with fair prices and sufficient supply for consumers.

“If you’re a protected industry, you’re producing a protected product; be reasonable in the profit you make and be reasonable in the supply that you are able to. Protection is meant to be temporary, five years, 10 years but some industries have been protected for many, many years. So we are working with the industry.

He adds the government is actively reviewing outdated import policies and biosecurity measures, aiming to diversify import sources, promote competition, and ultimately reduce costs for consumers while supporting local producers.

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