The iTaukei Land Trust Board (TLTB) had distributed a total of $3.4 million as part of the Government’s Committee of Better Utilisation of Land (CBUL) payment programme for the July to December 2018 period.
CEO Mr Tevita Kuruvakadua said that the support of the Government in this area has really helped the farmers in agricultural areas especially sugarcane farmers whose land leases had expired while at the same time provide incentives for landowners to consent to the leasing of their land they do not require in the immediate term.
One thousand two hundred forty three (1,243) iTaukei landowning units whose land are leased out for agricultural purposes were entitled to this payment.
Mr Kuruvakadua said these funds were deposited into their Mataqali bank accounts last week.
A total of $57.5 million has been paid as CBUL rent subsidy by the Government since the start of the initiative in 2010 - the main objective is to promote and ensure the productivity of land particularly for agricultural purposes.
Mr Kuruvakadua said that in 2008 Cabinet set up the CBUL incentive packages to landowners by increasing the land Unutilised Capital Value (UCV) from 6% - 10% and government to meet the increase through rental subsidy. The incentive package also included the increase of Farming Assistance Scheme allocation from $10,000 - $15,000 to meet the realised increase cost of land preparation and cane production aspects particularly for new farmers.
A lease renewal rate of 85% has been achieved for cane leases that expired from 1997 to 2018.
Mr Kuruvakadua said that in an effort to enhance the renewal process, a five (5) year early notification was implemented from 2015 to ensure the necessary due diligence was conducted prior to the expiry of leases and also to improve the trust and confidence of our tenants.
“Based on the assessment of landowner land needs and interest from tenants to lease for another new term, the existing lease can be surrendered two to three years prior to expiry and new lease term is issued. This ensures that the contracts with the Fiji Sugar Corporation (FSC) and farm quota are sustained,” he added.
The CBUL rent subsidy remains a vital incentive for the landowners to lease our idle land and allow lease renewal for agricultural purposes.
Ends.