Updated 1220
PM rejects idea of liberalising energy distribution
PM Robert Abela has rejected a proposal to end Enemalta’s monopoly in energy distribution and introduce private competition in the market. In a statement on Saturday, Abela argued that liberalizing the energy distribution market would result in increased costs for consumers and lower wages for Enemalta employees. “If the energy sector is left to the market forces, prices will soar,” he stated. “And we are all aware of the implications of competition for workers,” he added, without providing further details. The proposal to liberalise energy distribution was put forth by the Nationalist Party on Friday as part of a comprehensive plan to address the ongoing energy challenges. (Times of Malta)
BOV secures USD correspondent banking agreement
Bank of Valletta (BOV) revealed that it has reached an agreement with Citi for US Dollar banking transactions. In an announcement on Saturday, BOV stated that the inclusion of Citi in its correspondent banking network strengthens its existing relationships with international banks and grants direct access to US Dollar cash clearing services. CEO Kenneth Farrugia described this collaboration as a significant step in the bank’s ongoing strategic efforts to offer personal and business customers seamless international cross-border payment capabilities. (Maltatoday)
Doctors lament lack of investment in health infrastructure
The Medical Association of Malta (MAM) has expressed its dissatisfaction with the Government’s reluctance to invest in the country’s healthcare infrastructure, despite the significant increase in the population. In a statement, MAM acknowledged the Government’s acknowledgment of responsibility for the recent wave of power cuts and their commitment to invest in the electricity distribution infrastructure. However, the association emphasized the urgency of addressing the strain on the healthcare system caused by the country’s population growth. MAM pointed out that Mater Dei Hospital is currently utilizing all 6 makeshift wards on a daily basis, which were originally intended for use during major incidents. The association stressed the importance of investing in the healthcare system to accommodate the growing demands of the population. (Newsbook)
Morning Briefing
Govt to establish climate change authority and double investment in distribution
Energy Minister Miriam Dalli informed social partners that the government plans to establish a new authority dedicated to monitoring the consequences of climate change and coordinating efforts to alleviate its impacts. The Energy Minister addressed an urgent meeting of the Malta Council for Economic and Social Development following the series of significant power cuts in the past two weeks. In the meeting held at Castille, Prime Minister Robert Abela further revealed the government’s decision to double its investment in the country’s distribution network. This move aims to enhance the system’s resilience and ensure a more robust power distribution network. (Maltatoday)
PN calls for liberalisation of energy distribution
The Nationalist Party called for the opening up of Malta’s power distribution sector to private companies, emphasizing that such a move would enhance efficiency and consistency in the system. Opposition leader Bernard Grech presented a comprehensive nine-point plan aimed at addressing the recent crisis of prolonged power cuts that the country experienced over the past two weeks. Grech asserted that the power cuts were not a coincidence but a consequence of the current government’s lack of concern and action. PN MP and energy spokesperson Mark Anthony Sammut supported the notion that Malta’s power distribution should transition towards a liberalized system, allowing private companies to play a role in its operation and management. (Times of Malta)
Plans to address early school leaving unveiled
The Government unveiled a new strategy comprising three primary pillars aimed at reducing the percentage of early school leavers, which currently stands at over 30%, to 9%, in compliance with international commitments. The strategy focuses on prevention, providing support throughout the educational journey, and implementing measures to assist individuals who have already left school prematurely. Based on prevention, intervention, and compensation, the strategy outlines five specific activities and measures that the Government is contemplating to ensure its success, as outlined in the document presented by the Minister for Education. (TVM)
