The National Farmers Union (NFU) of Fiji is urging Nitya Reddy, the chairman of the Fiji Sugar Corporation (FSC), to disclose details regarding nine properties that were allegedly sold for significantly less than their market value between 2019 and 2020. Union general secretary Mahendra Chaudhry has emphasized the necessity for transparency surrounding these transactions, particularly concerning government involvement in the deals.
Chaudhry specifically called for Reddy to identify each sold property, disclose the sales prices versus estimated market values, reveal the buyers, and clarify whether tenders were issued for these sales. Notably, he pointed out that one of the sold properties included the site of the FSC headquarters, which was sold to the Fiji National Provident Fund (FNPF) and subsequently leased back to the FSC.
This call for clarity arises after Reddy confirmed to the media that the sale prices for these valuable properties, totaling around 633 acres, averaged approximately $101 per square meter—far below expected market rates. Some parcels of land, including valuable port infrastructure, were reported to have been sold for as little as $50 per square meter.
These financial dealings come amidst ongoing discussions about FSC’s management and sales strategies. In past statements, Reddy noted that earlier property sales occurred under a previous administration and that recent changes aim to ensure future sales serve the best interests of the sugar industry. Recent sales by FSC, which have included only a couple of properties since 2023, have been designed to protect community interests and support industry stakeholders rather than facilitate private profits.
Community members have expressed particular concern regarding the impact of such sales on local resources and the sugar industry, which is crucial to Fiji’s economy. The evolution of FSC’s policies reflects a renewed commitment to transparency and responsible asset management, a necessary step towards rebuilding trust with stakeholders and ensuring the long-term stability of the sugar sector.
The environment for the sugar industry appears to be evolving positively, as FSC has recently focused on sustainable practices and responsible governance. By prioritizing transparent transactions and keeping community interests in mind, there is potential for revitalizing the industry, which has historically faced challenges.
Through a commitment to enhance operations and increase stakeholder engagement, FSC seems poised for a more sustainable future, reaffirming its vital role in Fiji’s economy.
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