A PRODUCTIVITY improvement will increase income, says Deputy Prime Minister and Finance Minister Professor Biman Prasad.
He said this in turn would help address challenges brought about because of the cost of living.
“The surest way for Government to respond to the cost of living is to raise incomes. As we improve productivity, incomes will grow,” Mr Prasad said.
“We seek your partnership in taking our productivity to the next level – from farmers using FDB (Fiji Development Bank) resources to improve productivity on their vegetable and yaqona farms; to manufacturers applying new technology to reduce costs.
“The Government will work with you to lift our productivity. We have initiated a review of minimum wages. We will work with our tripartite stakeholders to adjust and lift minimum wages.”
Mr Prasad said the Government was constantly looking for new markets to source goods more cheaply, in Indonesia, China, India and across Asia.
“The Government is focused. All the tools at our disposal are being deployed to ensure that our economy is one where services and goods are delivered fairly and as cheaply as possible.
“We are making progress.
“I am focused on this. My ministry is focused on this.
“The Government as a whole is focused on this. Coming to grips with the cost of living increases is among the highest priority of the Government.”
Mr Prasad said this was a core part of the “getting the basics right” framework.
