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Fiji’s Commerce Commissionhas today announced a detailed inquiry into the finances and operations of the Fiji Electricity Authority (FEA).
The announcement came as the commission finished receiving submissions from members of the public into a review of FEA tariffs.
The commission has also received submissions from FEA for an increase in tariff rates said commission chairman Dr Mahendra Reddy.
“Electricity is a very important and critical input in all spheres of Fiji’s economy. Getting prices right is critical to promoting a competitive economy and also ensuring that the resource is not subject to inefficient use,” Reddy said in relation to the inquiry.
The inquiry team he said will be headed by a finance person with two senior accountants with extensive experience in financial analysis and auditing.
The review team will be begin its work tomorrow and will examine FEA’s financials over the last 10 years, its operating expenditure over the same period, personnel emoluments, outsourcing operations, consultancy activities investment activities.
Reddy said he will be overseeing the team’s work which is expected to take four weeks.
“We intend to make the report public,” he said.
By: Richard Naidu
