No end to regime greed

Nouzab Fareed, Fijian Holdings Limited CEO, has declared that FHL will be increasing the dividend paid to Class B shares owned by Provincial Councils and iTaukei Affairs Board. They will now be paid the same dividend as Class A shareholders, the people who kicked off FHL with their own funds while the shares of the Provincial Councils were paid for by the Government after FHL got going. But Nouzab Fareed did not reveal that the increased dividends for Class B shares will all go straight to the regime pockets. Bainimarama ordered that the Provincial Councils pay back to the Government the costs of the Class B shares with the money being recovered from dividends. In other words, the increased Class B share dividend is an increase to the regime itself at the expense of people who put their own money up to buy shares.

Fiji Times May 06, 2013 $440m target

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