Showing posts from November 18, 2012

The Fiji Dollar

Dilemma to raise our dollar*By Dr TK JAYARAMAN Professor at the Fiji National University’s School of Economics, Banking and Finance, Nasinu Campus.
As usual, there were several 2013 Budget submissions in the last few weeks. One of the submissions was that government should raise the value of the Fijian dollar by five per cent to 10 per cent for reducing inflation. It was argued that both businesses and consumers rely more on imported products, from manufacturing to retailing and more expenditure is incurred by businesses and consumers. The submission stated that if the value of the domestic currency is increased, the imported items would cost less. It was also claimed that relief in terms of lower import costs would be welcomed by consumers and manufacturers alike.

The 2009 devaluation
A foreign exchange crisis led to devaluation in 2009. There was a rapid decline in foreign reserves by end of 2008. They were about FJ$560 million, sufficient for two months of imports.  The decision…

Lockington's Everyday Fiji ... Life Goes On

Civil Servants and Pensioners

Civil servants will soon be getting merit payments. I must congratulate those who will receive the increment and wonder whether the Cost of Living Adjustment (COLA), will be included.
If COLA is included,  will pensioners who are on government pensions also receive it? And what about those on FNPF pensions?  The  FNPF could put aside some amount of money earned from investments to facilitate this payment. After all, FNPF pensioners face the same price of goods others face. I think it is only fair.
And may I suggest that pensioners who reach seventy years of age get some kind of reasonable increase> Their pensions  are smaller than today's pensions very because they are based on the lower incomes and cost of living when they retired.  Yet, today,they pay the same bills and other expenses as all others.

Allen Lockington is a self-employed customs agent and business consultant who has regular articles published in Fiji. I thank Allen for permission t…

2013 Fiji Budget Speech

PM BAINIMARAMA - 2013 FIJI BUDGET SPEECH Ministry of Information PDF | Print | E-mail Nov 22|15:29 pm Hear this article

“INVESTING IN OUR FUTURE” FIJI BUDGET SPEECH 2013 COMMODORE JOSAIA VOREQE  BAINIMARAMA, OStJ,MSD,jssc,psc Prime Minister and Minister for Finance, National Planning, Public Service, Peoples’ Charter for Change, Information, Sugar, Foreign Affairs, International Co-operation and Civil Aviation, Indigenous and Multi-Ethnic Affairs and Provincial Development FRCA Building, Nasese, Suva     Thursday, 22nd Nov, 2013
Cabinet Ministers;
Your Excellencies;
Members of the Diplomatic Corps;
Distinguished Guests;
My Fellow Fijians:
It is my task today as your Prime Minister and Minister for Finance to present to you the 2013 Budget.
Next year will long be remembered as the year that Fiji made a bold investment in its future.
For today, I am announcing a budget that decisively tackles some vital areas of need in our nation and especially one of its biggest challenges – the …