Questions arise around sale of EFL shares

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Opposition member of parliament and NFP leader Professor Biman Prasad during a recent parliament sitting. Picture: RAMA/FT FILE

Questions have arisen on the nature and value of the sale of 44 per cent shares of Energy Fiji Ltd to Japanese consortium Sevens Pacific Pte Ltd that was announced last Friday evening.

And National Federation Party leader Professor Biman Prasad has exhorted the Government to “come clean” on this transaction.

He claims the Government “quietly” issued the statement to announce the acquisition and did not mention the price to be paid for the shares.

“20 per cent of the shares are being sold by FNPF.

“FNPF bought these shares 18 months ago for $206 million.

“The other 24 per cent is being sold from the government shares,” he said.

“These shares belong to the people of Fiji.

“The Government serves the people of Fiji.

“Why has the Government not told the people of Fiji how much their property was sold for?

“This Government says it is transparent and accountable.

“So it must be transparent with the people of Fiji and answer the following: what is the sale price; what will Government do with the money it gets, like all other money it has borrowed; what did the Government do with the $206m it got from the FNPF in 2019 or had it already borrowed the money?”

Mr Prasad challenged the Government to be honest with the people and say what they were entitled to know.

Related article:

Japanese consortium buys EFL shares

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