GOVERNMENT'S intention to buy out minority shareholders in the Fiji Sugar Corporation will allow it to continue with reforms that are in place unhindered, says FSC executive chairman Abdul Khan.
"The option suggested to government is for government to have full ownership of FSC at present," Mr Khan said.
"The acquisition by government of the remaining shares is to allow government to continue with the reforms of the industry without undue delays.
"And it is important to note that the future ownership of FSC will be the government's decision at the appropriate time."
Responding to queries about the International Monetary Fund's recommendation in 2011 for the government to divest its stake in the FSC, Mr Khan said the sugar industry was in a bad state at the time and government reforms implemented since then had resulted in significant improvements.
"In regards to IMF's comments in 2011, the suggestion was based on a possible mechanism of improving the sugarcane industry.
"Government taking control and implementing the reforms over the last two years has actually achieved the same or better results for the industry."
Mr Khan said payment for the remaining shares was likely to be based on the current audited value for the basic earnings per share.
Government owns about 68 per cent of FSC with the remaining shares owned by individuals and local enterprises.