Minister for Economy, Aiyaz Sayed-Khaiyum has revealed this in Parliament, adding that over 9000 applications have been received from Fijians.
Around $30 million has so far been disbursed under COVID-19 concessional loan scheme.
Minister for Economy, Aiyaz Sayed-Khaiyum has revealed this in Parliament, adding that over 9000 applications have been received from Fijians.
Sayed-Khaiyum was speaking as he moved the Fiji Revenue and Customs Service amendment bill, which gives FRCS powers to disburse and collect these loans.
During the debate, the Opposition also raised questions about what and how the application were assessed, with some even questioning if FRCS was involved in the assessment process.
Sayed-Khaiyum had this to say.
“When we were giving grants, you complained about it being a grant, now when we giving loans, you are now complaining about the loan. The fact of the matter is, you did not listen, and I had said that the assessment, was carried out not by FRCS. Assessment was carried out by the four organizations by the private sector together with the Minister of Commerce Trade and Tourism.”
Opposition MP Niko Nawaikula questioned Sayed-Khaiyum, why commercial banks were not involved in the process.
The Economy Minister giving details about why this step was taken.
“The reason why we did it with the FRCS because FRCS has an office in almost every urban centre. So it makes it easier for people to go to do their repayments. They of course can do it electronically. They can make arrangements with FRCS, but we know some people want to go pay physically still in Fiji, so they can go to any FRCS office in Fiji.”
The Business Assistance Fiji panel includes the Fiji Institute of Accountants, Fiji Chamber of Commerce and Industry, Women in Business and Fiji Commerce and Employers Federation.
