Prime Minister tells of remarkable returns for pine land lessors

Prime Minister Voreqe Bainimarama handed out lease security bonus payments amounting to $5million to twenty Fiji Pine landowners last Thursday. While handing out the bonus payments in Lautoka said there were about 25,000 pine landowners who relied on the industry through the land that they leased. “Knowing that so many thousands of Fijian families depend directly on the continuity of our pine industry, Fiji Pine refused to give up, even in the face of unprecedented adversity,” PM Bainimarama said.

“That’s why the Board and Management team at Fiji Pine Group took quick action, putting together business continuity plans to ensure that our landowners and workers would be insulated from these global headwinds as much as humanly possible.” The head of government added that the Fiji Pine Group paid out a total of $24.1m in lease security bonus payments over the years, which was a remarkable return on landowners’ investment.

“As we look ahead with that same foresight, I ask that you help Fiji Pine continue to strive toward sustainable growth. Double-down on this smart and proven investment by renewing your leases, and consider giving more land for new plantations. In doing so, you’re investing in your families, you’re investing in your communities, and you’re investing in Fiji,” he said. Fiji Pine Group Chairman Ratu Wiliame Katonivere said despite 2020 being a challenging year in the history of the Fiji Pine Group of Companies, they were still able to hand out bonus payments to their landowners.. More on backpage.