Landowners in Bua received a substantial sum of $1,109,575.87 as part of the Fiji Pine Group of Companies’ $6 million bonus payout. This event took place in Drasa, Lautoka, where Jimi Vola, a former civil servant and Bua Forest Trustee, represented the interests of the landowners.
A total of 101 mataqali in Bua contributed approximately 15,000 hectares of land for lease to Fiji Pine Ltd. Mr. Vola expressed gratitude to Fiji Pine and its directors for this significant occasion, stating, “I travelled all the way from Lekutu in Bua to represent the landowners.”
The distribution of the funds will be conducted fairly, ensuring each landowner receives an equal share. Before the payout announcement, each mataqali submitted a form to decide how the funds would be allocated. Many participants indicated a preference for about 30% of the payout to be allocated for personal use, with the remaining 70% designated for community development within their mataqali.
Alitia Bainivalu, Minister for Fisheries and Forestry, announced that this would be the final Lease Security Bonus Payment (LSBP). Starting in 2025, Fiji Pine will shift to a new method of distributing dividends to stakeholders based on the company’s performance, which reflects ongoing governance improvements.
In total, 22 landowning units from the Western Division and Vanua Levu benefitted from the bonus payout.
This payout not only provides immediate financial relief to the landowners but also fosters a sense of communal investment in development projects within their areas. The transition to a performance-based dividend system is a progressive step that aims to enhance accountability and ensure that the benefits of the forestry industry are equitably shared among landowners. This evolution shows a commitment to sustainable practices and the well-being of local communities.
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