BUA landowners yesterday received the highest amount of $1,109,575.87 during the Fiji Pine Group of Companies $6million bonus payout.
Speaking to this newspaper at Drasa in Lautoka, former civil servant and Bua Forest Trustee Jimi Vola said the 101 mataqali in Bua had given 15,000 hectares of land to be leased by Fiji Pine Ltd.
“I want to thank the Fiji Pine Group of Companies and the directors for this occasion today,” he said.
“I travelled all the way from Lekutu in Bua and represented the landowners. We have given 15,000 hectares of land leased to the Fiji Pine Ltd. There are 101 mataqali in Bua that have given their land to the Fiji Pine Group.”
Mr Vola said the money would be distributed equally to the landowners in Bua.
“Before the announcement of the $6million payout, each mataqali had to fill a form.
“The money would be shared in percentages, and it was their decision whether they wanted 100 per cent to be shared.
“I believe many had said that 30 percent would be theirs while 70 percent would be for developments in their mataqali.”
Minister for Fisheries and Forestry Alitia Bainivalu informed those present yesterday the payout was the final Lease Security Bonus Payment(LSBP).
“Beginning in 2025, the company will transition to distributing dividends accurately to its stakeholders, specifically the landowners, based on the industry’s performance,” she said.
“This change is part of our ongoing governance enhancements.”
A total of 22 recipients from landowning units in the Western Division and Vanua Levu were given the Lease Security Bonus Payment (LSBP) yesterday.
