Government spends one third on mineral fuel imports
July 27, 2017 1:28 am
Around one third of Fiji’s total import bill has been spent on mineral fuel imports for the past years.
Ministry of Infrastructure and Transport Permanent Secretary, Paul Bayly, says this is quite alarming considering the size of our economy.
He adds the ministry is currently working with financial institutions to help businesses and individuals to invest more on renewable energy.
“Investment products include customized credit lines for energy efficiency upgrades and clean technology investments, and mezzanine finance for smaller renewable energy projects. Advisory interventions include technical capacity building for local FI’s to help them identify and develop sustainable energy projects, and awareness raising and pipeline development support to local market players such as energy service companies, equipment vendors, consultants and government regulators.”
He adds a shift to renewable energy will enable the government to invest this much money into other critical areas.
The government is encouraging all households to shift energy source to renewable energy.