Good news for Fiji Sugar Corporation workers as the FSC board has approved a 5% pay rise for their staff.
FSC CEO Graham Clark made the announcement at their 2017 AGM.
This is despite FSC recording an operating loss of $45 million for the year.
Clark says it has been a long time since the staff had a pay increase and the board believes they need it to adjust to cost of living.
He says the news is now being communicated throughout their organization.
He says they are also looking at taking this as a performance-based system in the future.
FSC says the total cane crushed in 2017 increased by 18% year on year, however, the 2017 crop was 20% lower than what was forecast.
Clark says sugar production increased by 29% compared to last year.
The operating loss for FSC was $45 million compared to a loss of $53.4 million last year.
Clark says the net loss for 2016 was higher due to a $10.2 million allowance for impairment on capital works in progress.
FSC is forecasting a marked reduction in the net loss for the financial year 2018 due to the improvement in operational and factory efficiencies as well as a rigorous approach to cost control from the management.
