Shania Shayal Prasad 
A long-standing dispute between the Fiji Roads Authority and municipal councils over a contingent asset of $84 million remains unresolved.
The issue stems from a 2013 Memorandum of Understanding outlining the responsibilities and financial arrangements between the FRA and the councils.
In response to questions raised by the Standing Committee on Public Accounts, FRA’s Head of Risk and Compliance, Ravneel Lal, says the agreement has led to accounting confusion, with both parties disputing receivables and payables.
“So, what we’re trying to do is have a current MOU that will address the issue, and it will be governed through the central level rather than the local level.”
Lal states that the figure, recorded in the 2019 financials as a contingent asset, continues to appear off-balance sheet and may need to be written off.
He also confirmed that the matter is expected to be resolved within the current financial year.
Stream the best of Fiji on VITI+. Anytime. Anywhere.
