Former Reserve Bank of Fiji Governor and Unity Fiji Party Leader Savenaca Narube acknowledges that the rising cost of goods and services is a global issue, driven by factors such as increased prices for imported goods.
Former Reserve Bank of Fiji Governor and Unity Fiji Party Leader Savenaca Narube has called for bold and innovative measures to tackle the rising cost of living.
He argues that while the global economic situation has contributed to inflation, local solutions must take priority to alleviate the burden on Fijian families.
Narube acknowledges that the rising cost of goods and services is a global issue, driven by factors such as increased prices for imported goods.
However, he cautions against using this as an excuse to accept the situation as inevitable.
“I think the prices will continue to rise from abroad, particularly fuel and many others. So we need to brace ourselves for this. I would like government to be much more brave and innovative in trying to solve this cost of living, because people are crying.”
Narube recommends examining the factors driving inflation, particularly business profit margins, and suggests the reintroduction of price controls to reduce the burden on consumers.
He highlights Fiji’s reliance on imports as a key factor in rising costs and calls for reduced duties on essentials and higher tariffs on luxury items.
He also advocates for better exchange rate management to address the impact of the depreciating Fijian dollar.
Meanwhile, Deputy Prime Minister Professor Biman Prasad explained that the government’s focus has been on increasing incomes, as some price increases are beyond control due to global factors like rising freight costs and prices in countries like New Zealand, Australia, and China.