25 Nov 2008

Privatisation of state assets could be on agenda in Fiji

11:01 am on 25 November 2008

Privatisation of state assets could be on the agenda in Fiji following last Friday's budget.

The Interim Government indicated in the budget that all proceeds from future sale of Government assets would go towards paying off foreign debt.

Exactly what might be up for sale remains unclear.

Economist Mahendra Reddy believes the government is considering selling some publicly owned freehold land and residential properties and its majority stake Telecom Fiji.

Dr Reddy says its not a well thought out strategy.

"Our government should not willy nilly start selling its assets. You want governments to also have a a strong financial foundation. You can't have governments without any strong asset base."

Mahendra Reddy.