10 Jul 2007

Expiring leases lower Fiji NLTB income by 60 percent

10:34 am on 10 July 2007

The rental income received by Fiji's Native Lands Trust Board so far this year has dropped by 60-percent.

The Fiji Times reports that the interim minister for Fijian affairs, Ratu Epeli Ganilau says the NLTB's income has dropped from 6-million US dollars to only 2-point-4 million dollars.

He has attributed the drop to the large number of farm leases which have expired and have not been renewed.

The NLTB is Fiji's largest landlord managing 90% of all land in the country which is indigenous owned.