Trust Fund board posts significant income increase in 2017
May 25, 2020 4:45 pm
The i-Taukei Trust Fund Board recorded a significant increase in its income in the 2017 annual review report.
Economy Minister Aiyaz Sayed-Khaiyum while contributing to a motion on the debate of the report of the institution highlighted that with a new board, they had significantly expanded their bottom line.
“If you look at the comprehensive income Mr. Speaker sir, if you compare 2017 to 2016, it actually jumped from $5.6 million to $13.38 million Mr. Speaker sir, similarly the total equity increased from $93 million to $107 million Mr. Speaker sir.”
Sayed-Khaiyum highlighted that in addition to overseas investments by the Fund, there was also a real estate portfolio that contributed to the increased revenues.