Parliament will today debate a motion from Deputy Prime Minister and Minister for Finance, Strategic Planning, National Development and Statistics to approve an increase in the government guarantee for the Fiji Sugar Corporation (FSC).
This will be done under section 145(1) of the Constitution and Standing Order 131.
The motion is for Parliament to pass an increase in the Government guarantee for FSC’s domestic borrowings by $100 million, raising the total guarantee from $200 million to $300 million, covering the period from 1 August 2022 to 31 May 2028.
The motion also calls for an exemption for FSC from paying the standard government guarantee fee.
The government guarantee proposed aims to support FSC’s ongoing financial obligations and operational recovery, with the sugar industry still seen as a critical pillar for the Fijian economy.
