Fiji Hardwood pays over $879, 000

January 31, 2024 10:34 am

[Source: Ministry of itaukei Affairs/ Facebook]

The Fiji Hardwood Corporation Limited has handed a cheque of over $879,730 to iTaukei Affairs Minister Ifereimi Vasu.

The cheque was handed over by Chair Iowane Naiveli.

The payment is for the first half of lease rental for this year and stumpage fees for 2023 from the 75,223 hectares of plantation estate of which 41,325 hectares consist of mahogany.

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Vasu thanked the Fiji Hardwood for its inspiring performance and encouraged the company to engage more with landowning units.

[Source: Ministry of itaukei Affairs/ Facebook]

With an emphasis on economic empowerment for resource owners and enhanced vanua stability, the Minister urged Fiji Hardwood to reach out and explore innovative partnerships for the betterment of landowning units.

Vasu is confident that this will continue under the Coalition Government’s strategic direction for the iTaukei.

The lease rental is advance payment for the next six months and for the first time in five years Fiji Hardwood has updated the stumpage payment fees for landowning units.

Vasu says the upcoming review of the mahogany industry will further enhance the performance.