Riya Bhagwan 
Aerial views of Suva’s Central Business District.[PHOTO:RIYA BHAGWAN]
Fiji has previously spent millions on poorly maintained, incomplete and underused capital projects and with the current debt situation, it cannot afford poorly planned investments anymore.
This was the message from Nadi Chamber of Commerce and Industry board member Dr Ahmed Shakeel Shariff during a Post-Budget Forum in Nadi last night.
Dr Shariff said Fiji’s limited capital budget requires careful investment decisions.
He highlighted Fiji’s heavy borrowing to fund development projects, with debt rising to $12.6 billion, or 84.8 percent of GDP.
He noted that projects approved today would be repaid by future generations for many years.
Dr Shariff said ribbon-cutting ceremonies may last a day, but loan repayments could remain for decades.
He, therefore, warned that the nation could no longer continue creating projects that failed to deliver the promised benefits while relying on borrowed money.
Dr Shariff stressed that every capital dollar should create assets that work, provide lasting services and deliver measurable returns for the country.
He called for all major capital projects to undergo a transparent project assurance process before significant funding is approved.
