Where is the good governance coup?

In December 2006 the Army Commander seized power in the name of transparency and good governance. It was all about cleaning up government. The issue wasn’t how genuine our democracy was, it was all about cleaning up government. All of the claims about genuine democracy came later as an excuse for not allowing us to elect a clean government. However flawed past elections may have been, they’ve all had more democratic credibility than a Government imposed by force.

In 2007, when Bainimarama was talking all the time about ‘transparency and good governance’, it was obvious that he was repeating words from a coup script written by others. Good governance means more than sacking the government boards and advisory bodies appointed by Qarase. It means making sure all decisions made by government, whether directly through cabinet or indirectly through government-appointed board members, can be seen, understood and questioned by the public.

Over the seven years of Bainimarama rule there has been a steady decline in all the principles of good governance, in paticular transparency. We don’t know what the government is doing and we are not allowed to ask.

Annual Reports from the FNPF have shrunk and no longer provide the information we need to be confident our contributions are safe. The Fiji Sugar Corporation no longer has to produce an Annual Report because it has been de-listed from the South Pacific Stock Exchange, but we know it is insolvent. FSC should be placed in the hands of a receiver to protect all the people that trade with it – banks lending it money (if there still are banks foolish enough to do this) suppliers providing it with goods and services and hoping to be paid, not to forget small farmers investing in their farms in the hope that they will sell cane to FSC and be paid.
Then there’s Fiji Airways. Who knows what they owe or what interest they’re paying on their debts. We know the planes are owned by some artifical Irish corporation.

The pine and mahogany industries are covered in fog. We know Aiyaz buddy, Faiz Khan, is head of Fiji Pine, giving him control of Tropik Wood and Fiji Forest Industries. But that’s all we know. Try checking with Bloomberg Businessweek to see who’s running FHCL and you’ll find this: “Fiji Hardwood Corp. Ltd. does not have any Key Executives recorded.” There are no reports to show what is earned from mahogany sales, no doubt because Bainimarama doesn’t want the landowners to be able to work out what share he’s leaving for them.

Fijian Holdings is the one small ray of sunshine even though it is shining through a dark and threatening cloud. FHL still publishes the Annual Reports required by the Stock Exchange and from that we find that total liabilities for the FHL group grew by a staggering 244% during the year ending 30 June 2013. Assets grew by only 46%. And yet it is claimed FHL made a small profit. Is this profit real or just a result of accounting tricks?

The FHL Annual Report claims “All Directors are independent Directors with no substantial interest in the shares or Group business.” In other words they lose nothing if the company is bled dry by the regime. Dividends are being paid out to the iTAB and then grabbed back by Bainimarama to repay the ‘loan’ he invented to cover his grab-back of the Qarase Government grant to the iTAB and Provincial Councils of B class shares.

FHL is being looted but at least we can get a glimpse of it in the Annual Report, which is more than we can say for Fiji Pine and the Fiji Hardwood Corporation.

If we had an independent media they could demand answers to these questions, but sadly, we do not.

3 Responses to “Where is the good governance coup?”

  1. Frozen Says:

    When baini spoke of good governance back in 2006, he was talking about governing is bank account well. The evidence is out there, and we all know it.

  2. PNG Education News Says:

    This is happening everywhere. Here in PNG, we have new leaders voted in to get rid of corruption and for good governance but this never eventuates.

  3. Frozen Says:

    Something must be really wrong with those in the MSG. yes, birds of a feather flock together.

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