Pine landowners across Fiji recently distributed a significant bonus of $6 million, marking a pivotal moment for the country’s pine industry. Established in 2013, the Lease Security Bonus Payment (LSBP) has served as a yearly dividend for landowners, accumulating a total of $42.5 million to date based on the industry’s performance.
Minister for Fisheries and Forestry Alitia Bainivalu expressed enthusiasm during the cheque distribution, emphasizing the importance of the strong relationship between Fiji Pine Limited (FPL) and its resource owners. This year’s payout reflects FPL’s dedication to the landowners, with payments made to a total of 22 different tribes and the Fiji Pine Trust at the Drasa Sawmill Complex in Lautoka.
Minister Bainivalu announced that this would be the last traditional cheque presentation and that beginning in 2025, Fiji Pine Limited will transition to paying dividends directly to landowners’ accounts, contingent upon the industry’s success. She highlighted how the revenue generated from the pine industry, particularly from log sales, plays a vital role in supporting both the landowners and the local economy, ensuring a sustainable future.
Chairman of Fiji Pine Limited, Ratu Rakuita Vakalalabure, noted that the sector actively supports around 25,000 landowners across 422 landowning units, and additionally employs approximately 500 staff members, alongside over 15 contractor companies that provide various services.
In a noteworthy development, the Yavusa Nasolo landowners have already identified projects for their payout. Mereoni Kulu, daughter of the Turaga Ni Yavusa Nasolo, stated that the funds would primarily support university students within their community, as well as enhance school infrastructure. They also plan to invest in poultry farming and other small businesses, with a portion of the funds allocated for village canteens and baking initiatives. Moreover, efforts will be made to empower women, particularly single mothers in the tribe, through workshops aimed at skill enhancement and support for small business endeavors.
This monumental event not only underscores the success of the pine industry in Fiji but also highlights a promising future for landowners and their communities as they decide to invest wisely in education and sustainable development projects.
In essence, the continued investment in community infrastructure and education signifies a hopeful outlook for Fiji’s economic and social progress, demonstrating how partnerships between industries and local communities can yield positive outcomes for all involved.
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