24 Nov 2011

Fiji asset sales seen as strategic move

12:42 pm on 24 November 2011

The Fiji Commerce and Employers Federation says selling off state-owned enterprises is a strategic move by the interim government.

Businesses such as Food Processors, Fiji Meats Industry Board and Rewa Rice are in the process of being privatised by the regime.

The federation's Chief Executive, Nesbitt Hazelman, says he has been working on the due diligence of the SOEs that are being sold off.

"We need something that works. The government can not be seen to be carrying an enterprise that is making a loss year after year. They know too well that it probably should have been done a long time ago. World around, most of these sort of agencies that are a burden on taxpayers are normally sold off, so I think it's more of a strategic decision that any government that was in power at the time would have made."

Nesbitt Hazelman says in tomorrow's budget, local businesses are looking for the same kind of incentives as are given to foreign investors.