October 25, 2012

Landowners pocket 800K more

Tevita Vuibau
Tuesday, October 23, 2012

A PLANNED reduction in iTaukei Land Trust Board (TLTB) administrative fees will see landowners around Fiji pocket more than $800,000.

The reduction, effective from next year, was announced by Prime Minister Commodore Voreqe Bainimarama during the TLTB Strategic Corporate Planning Workshop at the Warwick Fiji Resort and Spa in Sigatoka yesterday.

Under the new reduction, administrative fees charged by TLTB will be cut by a full five per cent.

"Today I can announce the administrative fees charged by TLTB will be reduced by 2.5 per cent effective January 1, 2013," Commodore Bainimarama said.

"It is expected that these will be reduced a further 2.5 per cent later in the year, equalling an effective five per cent in 2013.

"This will mean more lease money in the hands of all landowners," Commodore Bainimarama said.

TLTB general manager Alipate Qetaki said the move was a positive one for them and also good news for the landowners.

He said while the new reductions would see TLTB forego more than $800,000 in revenue, the board remained confident in its ability to operate without the funds.

"We have been considering the reduction for quite a while but we have also looked at the implications because the board is self-funded, it is not funded by the government," Mr Qetaki said.

"We are quite confident because we have improved our services, the efficiencies and all that, and we look at our income from the past four years and we are confident that we can live with that."

Mr Qetaki said the TLTB would now need to work harder and be more efficient and effective in their delivery of services.

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