Another Finapeco?

The bulk purchasing proposal for fuel has revived memories of the failed Fiji National Petroleum Company Finapeco venture in the early 1990s. It was Ratu Mara’s baby, but the great man clearly did not have a head for business. It folded after losing millions and never resulted in a single importation of fuel. The World Bank hated the idea. They said “Finapeco’s establishment is not consistent with the GOF’s broader development objectives such as reducing the role of the state and increasing the level of competition in the economy.” Remember this was in the days of Jo Kamikamica, when a lot of real reforms were made which put Fiji on the road to recovery from the damage of the 1987 coup.

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