A coalition of landowners in Drasa, Lautoka, is set to receive $6 million in lease payments next week, according to the Fiji Pine Group of Companies. This payment signifies a celebration of their achievements as resource owners, stemming from a successful pine industry model established in the 1970s.
Fiji Pine stated that “2024 has been a year of growth despite some challenges within the company as it attempts to improve various operational areas.” The lease security bonus payments will be disbursed on Wednesday at the company’s headquarters in Drasa, where leaders and representatives from the thousands of landowning units (Mataqali) will converge to celebrate a successful operational year.
These events are significant for mataqali members, who use the funds to initiate various projects in their villages. The bonus payments have opened up substantial business opportunities for many pine landowners, allowing them to capitalize on these monthly payments each year.
Since 2013, lease bonus payments have created immense possibilities for thousands of landowning units. Initially, the payouts amounted to roughly $661,835 at $10 per hectare of pine plantations. The following year, this figure rose to $1 million when Fiji Pine Limited paid $15.50 per hectare.
To date, the Fiji Pine Group has distributed at least $25 million in lease security bonus payments to pine landowners.
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