February 2, 2023

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Political parties condemn the sale of shares, an investment long overdue

[File Photo]

The People’s Alliance, the National Federation Party and the Fiji Labour Party have condemned the sale of Fiji Airways shares to the Fiji National Provident Fund.

Earlier this week, the national airline announced FNPF as the second largest shareholder, behind the Government.

It now owns 30.02 percent of shares.

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All three political parties claim a lack of transparency in the manner in which FNPF has acquired shares in the national airline.

Meanwhile, Minister for Economy Aiyaz Sayed-Khaiyum said the involvement of the FNPF should have happened a long time ago.

He says any person looking at the long term and a quick rate of returns would have invested in Fiji Airways a long time ago.

Sayed-Khaiyum says post-pandemic, if the share prices dwindle as a result of COVID, they will bounce back once the airline starts flying.

Questions have been sent to the Government for a response.

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