EFL records huge profit, pay rise for staff

June 20, 2022 4:44 pm

Energy Fiji Limited recorded a $96 million profit before taxes in 2021, despite a 20% drop in sales.

Chief Executive, Hasmukh Patel says this has been possible through strategic planning, hard work, and sacrifices of EFL management and staff.

As a result, beginning this Wednesday, EFL will pay over $2.3 million in performance bonus to its entire 2021 workforce.

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“In fact, the year 2021 was a record year for EFL in terms of profitability. We achieved a profit level of some $96 million before tax and that has been the highest ever recorded in the history of Fiji Electricity Authority or Energy Fiji Ltd.”

An estimated 850 staff below the Head of Department pay grade will also receive a five percent increment, which will be backdated to January 1, 2022.

“Of course 2022 has been a challenge because the oil prices has really sored high.”

Minister for Economy, Aiyaz Sayed-Khaiyum says the energy industry is revolutionizing as demand continues to increase.

“Energy, of course, now is a critical part of any society. Electrifying people and their homes etc is critically important. Everybody demands electrification. Even the most remote places in Fiji want electricity. We need to be able to ensure that our energy sources are from renewable energy. “

EFL also paid dividend to their three main shareholders.

The Fijian Government received $23,772,531.62, Sevens Pacific PTE Ltd received $20,509,635.12 and the Central Share Registry received $2,330,640.35.