NFP Leader hits out at Energy Fiji Limited CEO
Updated: Aug 22, 2019
Facts don't lie
The National Federation Party says Energy Fiji Limited Chief Executive Officer Hasmukh Patel is deliberately misleading the nation to seek a substantial hike in electricity tariff in a bid to attract a buyer for the company and help boost revenue for the cash-strapped government.
NFP Leader Professor Biman Prasad said Mr Patel’s statement that EFL had lost $100 million as a result of a reduction in tariffs was a lie.
“Because if it were the truth that Mr Patel wants the people of Fiji to believe, then he should do the honourable thing and resign as the company would have made such a huge loss under his leadership despite substantially increasing its revenue”.
“Who is he trying to fool? The Annual Reports from 2010-2018 of Fiji Electricity Authority and EFL clearly portray a different picture of the company making profits and paying dividend to government”.
“Even Mr Patel, as CEO of FEA and later EFL is bragging about the profits in the Annual Reports from 2010 to 2018 that we have perused”.
Professor Prasad said proof of what he was saying is Mr Patel’s statement in the EFL Annual Report of 2018 when it made a staggering profit of $63.9 million and even paid a $20 million dividend to government from its 2017 profits.
Mr Patel said, “ It’s hard to imagine a better start for our newly-corporatised entity, Energy Fiji Limited, than a record third-straight year of over $70 million in gross profits for the company. After taxes, our net profit for 2018 stands at $63.9 million, a figure that keeps us well on track to deliver on our ambitious agenda to raise quality and access to affordable energy for the Fijian people”.
“But what should make us all most proud in 2018 is that this year was an historic year for the electrification of rural communities across the country. EFL spent a record $16.4 million to electrify rural communities, developing 86 rural electrification schemes for the benefit of over 2,600 Fijian households”.