Workers at the Fiji Ports Corporation Limited (FPCL) and its subsidiary, Ports Terminal Limited (PTL), are to receive a substantial share of yet another big boost in the Group’s profits.
About 170 permanent staff are being awarded pay rises of two per cent backdated 18 months to January 1st, 2012.
The Attorney General and Minister for Public Enterprises, Aiyaz Sayed-Khaiyum, said he was delighted to announce the increases to a dedicated workforce that had not had a pay rise for four years.
“The Bainimarama Government firmly believes in the principle of rewarding hard work in our public enterprises. Only through a constructive partnership with workers and management – without third party intervention – can we hope to grow these business and the Fijian economy as a whole”, he said.
The Minister noted that the Fiji Ports Group had recorded a significant improvement in financial performance in the past few years.
The Group recorded a net profit after tax of $7.31m for the 2012 financial year – a 30% increase over 2011.
Ports Terminal Limited recorded a loss of $26,415 in 2010. But the Group says that with “vigilant Board oversight, effective organisational leadership and the hard work and commitment of the employees” this position was completed turned around, with PTL recording successive profits of $1.28m in 2011, and $1.96m in 2012.
“We want to congratulate and thank all those responsible – workers and management – for an impressive performance”, the Minister said.
“This is bound to boost morale and the retention of key staff and we look forward to even better times ahead with our agreement with the Aitken Spence group of Sri Lanka to manage Ports Terminal Limited”, he added.