Fiji Pine pays $880k-plus as stumpage payment

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Fiji Pine board chairman Ratu Wiliame Katonivere, presents a cheque of $880,451.23 to TLTB as stumpage payment for the harvesting of pine trees from Mataqali Carakinayagi and Mataqali Solevu’s leased land in Nasarawaqa, Bua. Picture: SUPPLIED

Fiji Pine Ltd has presented a cheque worth $880,451 to the iTaukei Land Trust Board (TLTB) as stumpage payment for the harvesting of pine trees from mataqali Carakinayagi and mataqali  Solevu’s leased land at Nasarawaqa, Bua.

Apart from the land rentals that are paid yearly, there is also a 12 per cent stumpage payment made for areas harvested when the trees are 20 years and above, which is the average maturity age.

“In a time where the economy is facing so much uncertainty, this payout will certainly put a smile on their faces as there will be hope for their family welfare and future,” Fiji Pine Ltd stated in a statement.

The other benefits the company continue to provide to its landowners include: creating employment opportunities for pine landowners; participation in logging and cartage operations; participation in silviculture operations; levy payout given to their Forest Base Companies and Forest Base Trusts to further grow landowner based businesses and meet their social needs; and dividend payment in the form of lease security bonus payout.

“These are all provided to ensure that the welfare of its landowners are well looked after, improve their standard of living and encourage their participation in the Industry which in turn will generate the much needed economic activity for the nation,” the company stated.

 

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