Political parties claim EFL’s proposed hike not warranted
6 July, 2019, 5:24 am
POLITICAL parties have made claims that Energy Fiji Limited’s push for a hike in electricity tariffs wasn’t warranted because the company has been posting profits.
Claims were also made that the proposed 17.5 per cent increase was being done to “attract buyers for EFL shares”.
National Federation Party leader Professor Biman Prasad said EFL had reported more than $184million in profits over the past three years and had paid $20m in dividends to Government last year.
Fiji Labour Party leader and former prime minister Mahendra Chaudhry said EFL had more than $800m in accumulated capital reserves – and this should be used to replace and upgrade assets.
Questions sent to EFL on Sunday, June 30, July 1 and again yesterday on the comments made by Professor Prasad and Mr Chaudhry remain unanswered when this story went to print.
Read the full report in today’s edition of The Fiji Times.