Pine landowners across Fiji celebrated a significant milestone as they shared a $6 million bonus, marking a historic enhancement in the pine industry. Since its establishment in 2013, the Lease Security Bonus Payment (LSBP) program has provided landowners with an annual dividend based on the industry’s performance, amassing a total of $42.5 million distributed to date.
During the cheque presentation ceremony, Minister for Fisheries and Forestry, Alitia Bainivalu, expressed excitement about honoring the longstanding relationship with landowners who lease their land to Fiji Pine Limited (FPL). “This year’s payout exemplifies Fiji Pine Limited’s dedication to supporting our landowners,” she stated while distributing individual cheques to representatives from 22 different Yavusas (tribes) and the Fiji Pine Trust at the Fiji Pine headquarters in Lautoka.
Notably, this year marks the final LSBP ceremony, as Fiji Pine Limited plans to begin directly distributing dividends to landowners’ accounts in 2025, reflecting the industry’s performance. Minister Bainivalu emphasized the role of the pine industry in bolstering the local economy and ensuring a sustainable future for both the industry and the communities involved.
Ratu Rakuita Vakalalabure, Chairman of Fiji Pine Limited, remarked that the booming sector supports around 25,000 landowners from 422 units and indirectly benefits hundreds of employees and contractors across various services.
In particular, landowners from Yavusa Nasolo outlined plans for utilizing their received funds effectively, focusing on education and local development. Mereoni Kulu, daughter of the Turaga Ni Yavusa Nasolo, highlighted that the primary investment will be in university students from their tribe, aiming to enhance infrastructure for schools as well. Plans to establish poultry farms and small businesses, including village canteens and baking, reflect the proactive approach of the community members. Additionally, they intend to empower women, particularly single mothers, by organizing workshops to help upskill and support small business ventures.
Overall, this exciting development indicates a promising future for the pine industry and its stakeholders in Fiji, fostering community growth and sustainable economic practices.
In summary, the distribution of the $6 million bonus signifies both a strong relationship between Fiji Pine Limited and the landowners, along with a collective commitment to enhancing community welfare and empowering future generations through education and entrepreneurship.
Leave a comment