27 Aug 2003

Fiji's NLTB says lump sum lease to everyone's benefit

4:07 pm on 27 August 2003

Fiji's Native Lands Trust Board, the NLTB, believes everyone will benefit from a new rent-free lease option, but tenants may need to take out bank loans.

The NLTB is offering lump sum payment options for a 99-year term to replace annual rents on land leased from indigenous Fijians.

Its Executive Officer Niviloti Maivalumaira says it will make their job of calculating rents easier.

And he says it will benefit tenants because under the current system leases are reviewed every five years.

Mr Maivalumaira says if people can't pay the lump sum, then they will need to secure a bank loan.