NLTB looks at reducing poundage rate for landowners

The Native Land Trust Board is now looking at reducing the poundage rate for native landowners.

NLTB Public Relations Manager, Ro Alipate Mataitini said discussions have already been with the Interim Prime Minister and Minister for Indigenous Affairs, Commodore Frank Bainimarama.

He said Commodore Bainimarama has asked that the poundage fees charged for landowners should be reduced from 15 to 10 percent.

Mataitini said the NLTB is now analyzing the proposal as the poundage fees is used for the administration of the NLTB's work, and if it is reduced that the board has to decide how it will take care of its costs.

With the reduction in the poundage rate, the native land owners will receive more as lease rent.

It is not known at this stage when the final decision will be made.

Fijivillage News has also received confirmation that the increased Unimproved Capital Value on native land leased out will increase from about 5 to 10 percent from July. This would mean that from July this year, native landowners will receive more based on the UCV increase.

However the increase in the percentage will be subsidized by the interim government. Eight million tax dollars will be given to the NLTB for the increased lease rental to be paid out.