Lease renewal is important to keep the economy going – Prof. Prasad

Renewal of leases in some areas is important to keep the economy going and also keep the relationship between farmers strong.

This was highlighted by the Deputy Prime Minister and Minister for Finance Professor Biman Prasad during the Land Task Force consultation at Wainikoro in Labasa.

Professor Prasad says this is also because there have been a lot of interlinking economies between the farmers and the landowners.

He says these relationships were thriving well and when one relationship breaks, a lot of shops no longer exist on some lands.

Professor Prasad says, from an economic point of view, it is very important to look at the profile and the structures of the area and we cannot assume that in the next 10 to 20 years, something is going to happen because, by that time, there would have been changes made.

He has also reaffirmed that the coalition government will also look into the interest rates subsidies.