Local businesses in Fiji are facing a myriad of challenges, including rising costs due to a labor and skills shortage, increased corporate taxes, and a substantial 50 percent hike in minimum wages over the last three years. Edward Bernard, the Chief Executive of the Fiji Commerce and Employment Federation, expressed concerns that the proposed 34.7 percent increase in electricity tariffs would exacerbate these financial pressures on businesses.
During a public consultation on the proposed electricity rate held in Labasa, Bernard emphasized that these escalating costs would likely be passed onto consumers, leading to higher prices for food, fuel, and basic necessities. He warned that Micro, Small, and Medium Enterprises (MSMEs) might have to reevaluate their staffing needs, potentially affecting job security as they assess their ability to afford current personnel.
Bernard is calling for active participation from local businesses in the consultations held by the Fiji Commerce Commission (FCCC), encouraging them to submit written feedback. He underscores the vital role of private sector input in influencing decisions that impact business viability, employment opportunities, and the cost of living for Fiji’s residents.
Engagement in these discussions could not only help mitigate adverse outcomes but also promote a more sustainable future for the business landscape in Fiji, potentially leading to collaborative solutions that benefit both enterprises and consumers.
Leave a comment