FNPF owns 20 per cent shares in EFL

L-R) EFL board chairman Daksesh Patel, Attorney General Ayaz Sayed Khaiyum and National Provident Fund board chair, Ajith Kodagoda following the signing of the partial divestment of EFL shares today. Picture: LUKE RAWALAI

THE Fiji National Provident Fund now owns 20 per cent of shares within Energy Fiji Limited after purchasing 100 million shares from the company.

Valued at $220million, the 20 per cent shares are part of the 44 per cent shares that were divested by Government.

Speaking during the signing ceremony for the partial divestment of EFL shares today at the Prime Minister’s Office, Attorney-General Aiyaz Sayed-Khaiyum said the new development meant that FNPF would have a representative on the EFL board.

Mr Sayed-Khaiyum said, however, that EFL would continue with non-commercial obligations kept to the value of $22million, which was the value that EFL spent in non-commercial obligations in 2018.

“EFL, as you know at this time is a State-owned enterprise; there is 5 per cent shares owned by ordinary Fijians while the balance of the shares are held by the Fijian Government,” he said.

More in tomorrow’s edition of The Fiji Times.

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