RSS  | Search
  You are not logged in. Please login or Register NOW!
fijivillage.com
Fiji Time: 00:21, Saturday 31st of July 2010
Untitled Document



 
 


Budget Commentaries
 


 
National Budget Day today Nov27

It's National Budget day today and for the people of the country, they are now awaiting the announcement at 11am on what the government has in store for them and how it will affect their daily lives.

The National Budget to be delivered by Prime Minister and Finance Minister Commodore Voreqe Bainimarama will focus on two issues as in any budget, and they are revenue and expenditure.

The government's vision, focus and initiatives for next year will be known today where it will reveal its revenue policies and projected income, and at the same time the projected expenditure for the different ministries for 2010.

Then there is the everlasting battle of growing the economy, increasing exports, reducing the import bill, reducing civil service costs and focusing on the delivery of services to the people of the country, and raising our foreign reserves.

It is always a balancing act, and not everyone is pleased after a budget announcement.

The balancing act would be to introduce or continue with government policies that will improve the standard of living of the people and at the same time have attracting policies and incentives for businesspeople.

At the same time the issue of civil service efficiency and delivery of the services to the people through different ministries, is important as any budget is as good as the service delivery.

The focus will also be on the key industries that can still deliver revenue, investments, employment, and overall growth.

Meanwhile, FIT's Dean of Faculty for Commerce, Hospitality and Tourism Studies Dr Mahendra Reddy said he is optimistic that the government will have some good policies focusing on the poor.

Hopes and Expectations of today's Budget Announcement.

Public Service Commission Permanent Secretary Parmesh Chand said irrespective of their allocation, they will try to work within their budget.

Fiji Employers Federation FEF President Digby Bosley said they are hoping the withholding tax, which is 15 percent, is removed as they believe that foreign investors are being double taxed which would see them move elsewhere.

The withholding tax is paid by expatriate companies and is a means of retaining some of their profits before it is remitted offshore.

The Employers Federation also hopes the corporate tax which currently stands at 29 percent, decreases.

The Primary Industries Ministry aims to do more with less come next year.

Minister Joketani Cokanasiga said they will focus on various sectors for import substitution programs and believes additional funding will not be required to achieve their targets to focus on the beef and dairy industry.

The Primary Industry Ministry in its effort to reduce the import bill has introduced two new crop varieties, capsicum and sweet corn, for farmers in Sigatoka.

Introduced by the Taiwan Technical Mission, team leader Dr Cheng Hsiung Lin said they introduced the new varieties to show that there are many crops that could be cultivated in Fiji.

Trials are also underway to get into potato farming in Nadarivatu.

Meanwhile, a member of the Australia New Zealand Business Council expects to see a pro-business budget which should create employment to those who are searching for a job.

Caz Tebbutt of the Tebbutt Research said the private sector should be able to provide jobs and to solve the issue of increased unemployment in Fiji.

Prime Minister Commodore Voreqe Bainimarama will announce the National Budget 2010 at 11am today.

Stay with your Fijivillage team for coverage of the 2010 National Budget today.

We will bring you all the details on what you have to pay for, more or less from next year, how the ministry allocations will affect you and your family, and at the same time how it will affect the businesses and industries.


National Budget to reveal govts plans Nov27

The announcement of the National Budget 2010 this morning will reveal the government's plans on how it will increase investment levels in the country.

The Chief Executive Officer for the Fiji Islands Trade and Investment Bureau said for the first 10 months of this year, 62 projects have been registered with FTIB by many foreign investors.

Annie Rogers said the value of these projects is stronger than last year with employment numbers to be higher.

Rogers said that she cannot say the same for last year's figures as there has been a vast difference however this year looks promising.

Exporters in the country are hopeful that government will give more duty concessions to exporters in the 2010 National Budget.

National Exporters Limited owner Sunny Singh said they have to pay duty for the cardboard they use to export their products.

He said they are hoping the government will make certain items dutyfree to assist the exporters.

According to Singh, apart from vegetables, they export snacks, soft drinks and liquor to the US and other countries.

He said their products are of US standard.

Meanwhile, Singh added that meetings with farmers went well where they were assured that they will increase their output to meet their demands.


Remove withholding tax urges Employers Federation Nov26

On the eve of the 2010 National Budget announcement, the Fiji Employers Federation said the withholding tax imposed on overseas based companies is a major deterrent for investors.

The withholding tax, which currently stands at 15 percent, is paid by expatriate companies and is a means of retaining some of their profits before it is moved offshore.

According to FEF President Digby Bosley, this tax measure has seen interested investors take their business elsewhere.

Bosley said they are hoping the withholding tax is reduced as they believe that foreign investors are being double taxed.

The Employers Federation is also hoping that government announces further reduction in the corporate tax which currently stands at 28 percent.


FTIB happy with any budget allocation Nov26

The Fiji Islands Trade and Investment Bureau believes it will work with whatever allocation it will get from the government in the 2010 National Budget.

FTIB's Chief Executive Officer Annie Rogers declined to reveal how much she has asked for in their submission however said that FTIB will work with whatever they receive.

The Finance Minister Commodore Voreqe Bainimarama will deliver the 2010 National budget tomorrow at 11am.


Consumer Council wants VAT reduction Nov26

Hopefully the 2010 National Budget to be announced tomorrow will have measures to ease people's hardship.

Those were the words of Consumer Council of Fiji Chief Executive Premila Kumar who said they would like to see a reduction in the Value Added Tax on items.

According to Kumar, revenue can be sought from higher taxes on gambling, as she said people do this almost every day by the competitions they enter via their mobile phones.

Meanwhile, retailers are hopeful that investments and the economy will turn around come next year.

Fiji Retailers Association President Himmat Lodhia said the global financial situation is improving which is a good sign for smaller countries like Fiji.

Lodhia had earlier said that come the budget announcement tomorrow, they hope there are more business set up incentives to create employment, as well as the re-introduction of duty free shopping to attract more tourists and visiting relatives.

Also the Fiji College of General Practitioners is hoping that the Fiji dollar will soon be revalued because it will improve all sectors as well as health.

President Dr Ram Raju said they do not see any reason as to why this cannot be done now since things are improving.

Meanwhile, Dr Raju said they also believe the Health Ministry's budget allocation should be increased for next year.


Govt asked to manage external borrowing Nov 26

As we prepare for the announcement of the 2010 National Budget tomorrow, the International Monetary Fund is calling on government to carefully manage its external borrowing.

IMF's Asia and Pacific Department Division Chief Ray Brooks said considering the size of Fiji's economy, continuous overseas borrowing is not such a good idea.

Brooks said he hopes the 2010 Budget will address the need of redirecting finance so that debt levels can be brought down.

The 2010 National Budget will be announced tomorrow by Prime Minister Commodore Voreqe Bainimarama.


Nadi hopes govt looks into wish list Nov 25

The Nadi Chamber of Commerce hopes the government will look into its wish list before the 2010 National Budget is delivered this Friday.

Chamber president Dr Ram Raju said that businesses in Nadi are still facing problems after the January floods and some assistance from the government is much needed.

Raju said that after the floods, 15 shops have closed completely while 10 businesses have moved to higher grounds and businesses are finding it difficult to make profit.


Air Pac hopes Tourism Fiji gets enough funds Nov 24

Fiji's international airline hopes Tourism Fiji will get enough funding for marketing.

With the 2010 National Budget to be announced this Friday, Air Pacific chief executive and managing director John Campbell said they hope Tourism Fiji has adequate funding especially for destination marketing.

Campbell said this as Air Pacific supports destination marketing on a co-operative, joint expenditure basis.


Long term plan budget wanted Nov 23

The Fiji Retailers Association hopes that the 2010 National Budget to be announced this Friday is a long term plan budget.

President Himmat Lodhia said retailers have lost out on their shopping market through excessive duty on some items.

Lodhia said he hopes duty free shopping will be brought back to attract more tourists and visiting relatives.

Lodhia added they are hoping for more business-set-up incentives to create employment so people can have money in their pockets.


Certain expectations on 2010 Budget Nov 23

With the 2010 National Budget to be announced this Friday, there are certain expectations on what the budget should and should not contain.

The Ecumenical Centre for Research Education and Advocacy hopes to see a budget that does not see the privatization of any basic need.

Director Chantelle Khan who said the government will really look at the need to balance the budget between the business people and the poor.

Meanwhile, the Fiji National Council for Disabled Persons is hoping that the government will allocate funds in the 2010 Budget for them to build a disability centre in the north.

Executive director Dr Sitiveni Yanuyanutawa said the ground work for the proposed school has already been finalized and all they need now is the funds to construct a similar institution like the existing one at Qarase House in Suva.

The National 2010 Budget is to be announced this Friday by Prime Minister Commodore Voreqe Bainimarama.


No need for increase: Social Welfare Nov 19

The Social Welfare Ministry has not requested for any additional funds for its Family Assistance and Poverty Alleviation program in the 2010 national budget.

As of September this year, the Ministry has assisted over 24,600 people through the Family Assistance Program.

The Ministry confirmed that the $20 million allocated for this purpose in the 2009 budget was sufficient to cater for ongoing and new applications.

The Ministry said it has not submitted any additional request for an increase in the 2010 budget and hopes to cater for additional applications within its existing budget.

It said the strengthening of the review process and the transfer of cases to care and protection is also intended to free up funds to cater for any new cases next year.

The Ministry was also allocated $1 million under the Poverty Alleviation program which enabled them to assist 203 families with grants for housing assistance, income generating projects and emergency assistance to fire victims.

However, the Ministry said any changes to the Income Tax Threshold and VAT will always be appreciated by the poor and the needy.


ECREA hopes for people centered budget Nov 19

The Ecumenical Centre for Research Education and Advocacy is hoping that the 2010 National Budget to be announced next Friday will be people centered.

Director Chantelle Khan said they hope that the Budget will think of the low income earners and their needs, especially with regards to the rising food prices.

Khan added they want to see a budget that does promote economic growth but not at the expense of the people.

The 2010 National Budget will be announced by Prime Minister Voreqe Bainimarama next Friday.


No increase budget for NCBBF Nov 19

The National Council for a Building a Better Fiji will not ask for an increase in their budget allocation for next year.

In this year's budget, $400,000 was allocated for the operation and the implementation cost of the People's Charter.

NCBBF coordinator Filimoni Kau said this money was spent in their visit to various parts of the country in updating the provincial councils, villages and communities on the charter implementation, which is from this year to 2014.

Kau said all of the changes which are in the People's Charter is now in the plans provided by the Prime Minister's Strategic Framework and the finer details will be provided in the roadmap for democracy and social economic development for 2009-2014.

He added this will give the government an idea of the changes that have to be done before elections in September 2014.

Kau confirmed at the beginning of this year that they have already monitored the changes each government ministry was required to do, and they are expecting a report of six months soon.

At the end of December, a review will be carried out on what the respective ministries have achieved from their goals this year and also look at obstacles faced.


Health Ministry wants increased allocation Nov 18

The Health Ministry has asked government for an increased allocation in the 2010 Budget for the country to be more prepared for any disease outbreaks.

Permanent Secretary for Health Doctor Salanieta Saketa revealed that for 2010 they will be focusing on disease preparedness and have asked for an additional $10 million taking into account that Fiji was hit by a few outbreaks like H1N1 and dengue.

Doctor Saketa added that the other area they are looking at is ways they can assist in Fiji's output or GDP.

The 2010 National Budget address will be delivered by Prime Minister and Finance Minister Commodore Voreqe Bainimarama next Friday.


FEF hopes their issues are taken into account Nov 18

We are hoping that the 2010 National Budget announcement next week will take into consideration productivity, price control and import protection as per our budget submissions earlier this year.

These are the sentiments of Fiji Employers Federation President Digby Bosley who said it would be good to see their issues addressed when the Prime Minister announces the Budget next Friday.

The Federation had also asked for a decrease in the number of public holidays from 12 to 11, the construction and road maintenance to be hired out to private companies as well as an export market development scheme to help exporters, among other issues.


Macuata focuses on Look North policy Nov 17

As the 14 provincial councils await the announcement of the 2010 National Budget, Macuata Provincial Council chairman and Tui Macuata Ratu Aisea Katonivere said they are not asking the government what they want in the budget.

He said they are working with the government on the Look North Policy program over the last few months and hopes this will boost the economy and improve the infrastructure in the north.

Meanwhile, President Ratu Epeli Nailatikau has challenged the 14 provincial councils to provide their annual financial reports for accountability and transparency.

He said some provincial councils have been ineffective over the years and people have lost faith in the council after allegations of mismanagement and that they are not doing the work they are supposed to do under the Fijian Affairs Act.


Pro-business budget hoped for Nov 17

We are hoping that the 2010 National Budget is pro-business.

Those were the words of Fiji Employers Federation (FEF) board member and Fiji Hoteliers Association president Dixon Seeto who said the budget to be announced next Friday should have a lot of focus on growing the economy.

Seeto said they are hoping there are a lot more incentives in next year's budget to draw tourists to Fiji.

According to the latest figures from the Bureau of Statistics, Fiji's gross earnings from tourism for Quarter 1, 2009, is provisionally estimated at $167.6 million, a decrease of $25.4 million (or 13.2 percent) from Quarter 1 last year.

The Bureau said the decrease is largely due to the 242,922 or 18.7 percent decrease in visitor days.

Latest figures from Tourism Fiji showed that visitor arrivals for the first seven months of 2009, were recorded at 280,530, a 15% decrease from last year.

The second quarter earnings from the Bureau are yet to be released.

The 2010 National Budget will be announced next Friday.


Infrastructure plans in the pipeline Nov 10

Plans to develop and upgrade infrastructure, have land reforms to make land available for agriculture and investment and have modern laws are in the pipeline.

The aim is to have these complete and running smoothly within the next three years.

The Prime Minister also stressed that the government will overcome obstacles in the next three years and work on the objective to increase exports and have import substitution.

Commodore Voreqe Bainimarama said he knows that these objectives have been stated previously by past governments but he said in reality, Fiji overall has not made much progress in real terms.

He said there has been much talk but there has been no corresponding growth in these areas.

Commodore Bainimarama said all obstacles will be removed to achieve real growth in exports.

He said to date people have just done well through hard work and have had to go through many barriers.

He said the government will continue to implement what he calls 'enablers'.

Commodore Bainimarama said these include the land reform agenda and the Mind Pearl initiatives.

The Prime Minister said the enabling will continue in the 2010 budget which he will present on the 27th of this month.


Veilomani Boys Home expects financial assistance Nov 06

The Veilomani Boys Home and Rehabilitation Training Centre is expecting financial assistance from the government during the 2010 Budget announcement.

The Centre's superintendent Reverend Sarwesh Singh said the government has set a minimum standard for all the care giving centers.

He said they have a lot to do before June next year and hope the government will help as requested.

Meanwhile, the Centre which started its 4 day Open Day yesterday afternoon will be selling furniture and other household items made by the students.

Reverend Singh said the items also include a car fully serviced and painted by the students.


University requests close to $15M Nov 02

The Fiji National University has requested close to $15 million for their 2010 Budget.

This was confirmed to Fijivillage by interim university board member and Dean of the Fiji School of Medicine Ian Rouse, who said this will go mostly to improving infrastructure.

Doctor Rouse added that this figure was reached after all the State run tertiary institutes put in their proposed budgets in their meeting last Monday.

However, Doctor Rouse added that FSM has not requested for any additional money for next year.

The 2010 National Budget announcement is expected to be made on the 27th of this month.


Hope for education budget to increase Nov 02

With the announcement of the 2010 National Budget to be announced at the end of this month, there is hope that the budget for education will increase.

These are the sentiments of Fiji National Head Teachers Association president Jai P. Narayan who said education is very important and with a positive budget allocation the students will benefit.

In the 2009 budget, education received a little over $278 million.

Also, Fiji National University interim board member and Fiji School of Medicine Dean Dr Ian Rouse said they have requested close to $15 million for their 2010 budget adding this will go mostly to improving infrastructure.

Meanwhile, Prime Minister Commodore Voreqe Bainimarama has told his troops that he has been briefed by his Finance Ministry officials that they have managed to save more than $30 million fiscal surplus in the last nine months, and he is also aware that most government ministries have not fully utilized their budget allocations, of which, unused funds have been diverted to the Free Bus Fare Program for students from Classes 1 to Form 7.

The 2010 National Budget will be announced on the 27th of this month.


Long term solutions need to be explored Oct 17

While the finer details of the Free Bus Fare program for school students are currently being sorted, there will be more focus on the 2010 budget announcement next month to see how this program will fit in.

Ecumenical Centre for Research, Education and Advocacy executive director Chantelle Khan said long term solutions to this issue, as per their recommendations, needs to be explored.

The government will be considering a long term arrangement to address the bus fare issue for both adults and children in the 2010 budget.

Meanwhile, the senior education officer Suva is calling on all heads of schools to submit the number of students that travel by school buses on a daily basis as soon as possible, adding their office will be open tomorrow for school heads to submit the numbers.

The decision made means that any student travelling in the school buses from next Wednesday will not pay bus fare while students travelling in normal buses in uniform other than the school buses will pay half of the normal fare.

The half fare will only apply in the areas where no school buses are running.


Govt considers adult bus fare issue Oct 16

Government will be considering a long term arrangement to address the bus fare issue for adults.

In a statement released this afternoon, it stated that government is presently considering to address the bus fare issue for both adults and children in the 2010 budget.

This is in light of the announcement by Prime Minister Commodore Voreqe Bainimarama on the decision to pay for the bus fares of all school children, between Class 1 to Form 7 that commute to and from school by bus.

And as government officials work on the finer details to ensure that the historic decision made by the Prime Minister to have the No Bus Fare program for students travelling in school buses from next Wednesday, Commodore Voreqe Bainimarama said the decision had to be made to ensure that every child is educated in the country.

The decision made means that any student travelling in the school buses from next Wednesday will not pay bus fare while students travelling in normal buses in uniform other than the school buses will pay half of the normal fare.

The half fare will only apply in the areas where no school buses are running.

Commodore Bainimarama said based on the hardship faced by the parents and students, and the government fiscal surplus of $30 million, it has been decided that part of the money will be used to pay the bus fare of all the students travelling in school buses until the end of the current school year.

He said the payment to bus operators during the No School Bus Fare Program will be worked out by the government officials.


Works Ministry negotiate regarding 2010 budget Oct 05

The Works Ministry is still negotiating with other relevant stakeholders regarding what they need and want in the 2010 National Budget, which is expected to be announced next month.

Spokesperson Sainiana Waqainabete said they are hopeful that most of their needs will be met.

Waqainabete said with inclusion of eleven new graders in their fleet last month, PWD is hopeful most roads in the Central/Eastern Division will be fixed and maintained by the end of the year.

 

 

 © 2010 FijiVillage.com | All rights reserved Terms and conditions | Privacy policy 
fijivillage.com is fully owned and operated by Communications Fiji Limited (CFM).
231 Waimanu road, Suva, Fiji Islands.
Phone: (679) 331 4766 Email: info@fijivillage.com