The reinstatement of payments to FNPF pensioners, which had been discontinued since 2011, along with the announcement that an 8 percent credit will be added to individual members' accounts, reflects positively on the Coalition Government's initiative.
This was highlighted by Opposition MP, Mosese Bulitavu, in response to the 2024/2023 National Budget.
Bulitavu says that this reinstatement was long overdue, but he thanked the Government for their commitment and hard work towards advancing the interests of FNPF members.
He says the consequential bill discussed by Deputy Prime Minister and Minister for Finance Professor Biman Prasad, includes provisions for the partial or full transfer of a member's funds to another member, particularly to build on the legacy of their children.
Bulitavu further says these measures would enhance future investment and investment cultures.
The independent MP also acknowledged the Government's targeted approaches to assist Indigenous businesses, especially in tax-free zones where they will not be liable for taxes, which will significantly benefit Indigenous businesses.
Bulitavu also acknowledged the Government's decision to remove interest-free loans for businesses, which he views as a major boost for indigenous business diversification and investment in new areas.
He adds the budget progressively addresses the Sustainable Development Goals, increases domestic consumption and spending, and encourages investment and economic growth.
