𝐄𝐌𝐏𝐎𝐖𝐄𝐑𝐈𝐍𝐆 I𝐓𝐀𝐔𝐊𝐄𝐈 𝐋𝐀𝐍𝐃𝐎𝐖𝐍𝐄𝐑𝐒: $𝟏.𝟔 𝐌𝐈𝐋𝐋𝐈𝐎𝐍 𝐈𝐍𝐕𝐄𝐒𝐓𝐌𝐄𝐍𝐓 𝐓𝐎 𝐅𝐔𝐄𝐋 𝐄𝐂𝐎𝐍𝐎𝐌𝐈𝐂 𝐆𝐑𝐎𝐖𝐓𝐇 𝐀𝐍𝐃 𝐒𝐔𝐒𝐓𝐀𝐈𝐍𝐀𝐁𝐈𝐋𝐈𝐓𝐘

The political change in late December 2022 was historical for the country in terms of social and political development, changes, and leadership, generating many other changes in direction, policies, and strategies in many organisations and institutions.

Changes also occurred at the ITaukei Land Trust Board, and in the face of increasing poverty and low participation in commerce by iTaukei, the Board of Trustees endorsed lowering its operating poundage to 8% from 10% and set aside 10% as the iTaukei Wealth Fund.

Through the iTaukei Development Fund, three landowning units and companies and cooperatives received equipment worth $1.6 million in a handing-over ceremony officiated by Prime Minister Hon. Sitiveni Ligamamada Rabuka today in Suva.

Addressing the recipients, guests, and Government ministers, Prime Minister Sitiveni Rabuka stated that the TLTB has taken bold steps to implement initiatives addressing landowners' need for capital or access to capital.

“To the three landowning units, companies, and cooperatives who are beneficiaries in this facility today, Government is looking forward to seeing that your businesses thrive and contribute economically to the nation with tangible social impacts to your well-being and your welfare. The business must grow strong and sustainable; you must change the game, ensuring governance is played well and transformed," said the Prime Minister.

The iTaukei businesses that received equipment today include:

1. Infinity Pacific PTE Limited from Tokotoko Nasautoro, Korovuto, Nadi, which received assistance of $193,900 for the purchase of two vehicles.

2. Nativi Cooperative from Nativi Village in Saivou, Ra, which is leasing a total area of 119 acres for cane farming. They received a total of $62,000, with $59,000 allocated for the purchase of a new tractor and $3,000 designated as working capital.

3. The Dreketi Mahogany Landowners Cooperative from the province of Macuata, consisting of 10 landowning units that will harvest and cart Mahogany logs from their land, has been granted a total of $1.3 million to purchase a 10-wheeler truck, a loader, and an excavator.

4. Additionally, Tui Labasa Ratu Jone Qomate, who has 115 acres of sugarcane farm, received assistance for a tractor valued at $47,000.

Read the full story here: https://bit.ly/4glS8nb

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