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COVID-19

Reduction in FNPF contribution is a positive mechanism

March 30, 2020 4:25 pm
The reduction in Fiji National Provident Fund contribution is a positive mechanism for both businesses and employees.

The reduction in Fiji National Provident Fund contribution is a positive mechanism for both businesses and employees.

Fiji Chamber of Commerce President, Dr Nur Bano Ali says this will help employers sustain their businesses and cash flow which is a critical issue at this point in time.

Dr Ali says this will minimize job losses and hour reductions.

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“That helps the businesses to cushion the effects of reduced hours and its impact. No business wants to lay people off or have reduced hours because it’s a very sad and hard thing to do.”

It is believed that the impact of COVID-19 has further depressed domestic business activity, which had been impacted by the global economic slowdown since 2019.

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