Fiji Ports Terminal Ltd has made a formal submission seeking a review of its existing tariff structure following increased operational cost pressures linked to recent global fuel market volatility.
In its submission, Fiji Ports indicated that escalating fuel prices had pushed its costs up to the point where it could no longer absorb it within its current budget; and has, therefore, sought the consideration of the Fijian Competition and Consumer Commission (FCCC) for an adjustment to the regulated tariff structure.
The FCCC yesterday confirmed receipt of the formal submission saying it was reviewing it and no determination had been made as yet.
It acknowledged the importance of Fiji Ports Terminal within Fiji’s supply chain and broader economy, particularly given its role in facilitating the movement of imports and exports through the country’s maritime gateway.
“Given the ongoing volatility in global fuel markets, FCCC intends to undertake the assessment in a timely manner while ensuring that all relevant data, stakeholder views, and broader market implications are carefully considered,” the FCCC stated.
“As part of this process, FCCC will consult with key industry groups, government agencies, and consumer representatives to make sure all views are heard before any decision is made.
“FCCC’s assessment will consider the justification provided in support of the submission, the potential impact on regulated operations, and the broader implications for businesses and consumers.”
It stated the review process would focus on ensuring that any outcome was proportionate, evidence-based, and mindful of both operational sustainability and consumer impact.”
The FCCC said it was also mindful that any change to port fees would affect the price of everyday goods and services that Fijians relied on.
And it has assured the general public that any determination arising from the review process would be evidence-based assessment of the data provided, reflecting its commitment to transparent regulatory decisions made in the best interests of the people and the economy.
