Industry banks on State
15 January, 2021, 12:00 am
The Fiji Sugar Corporation’s sustainability as a “going concern” is based on “the assumption that the corporation will continue to receive support from Government”.
This, according to the board of directors in the FSC 2020 annual report.
“The directors believe with the support of the Government, the company will be able to continue in operation for at least 12 months from the date of this statement,” the report read.
The directors said they would play their part in ensuring the company improved its operations and outputs.
“The corporation will pursue increasing the area under cultivation, revenue optimisation from largescale sugarcane plantations, cost-cutting initiatives, sale of non-core assets, power generation income and better marketing of Sugars of Fiji for local and regional markets.”
The directors said investments would be made in upgrading and refurbishing mills.
This would be done “to achieve improvement in mill efficiency and mill performance”.