‘Isolated Busttil needs a reality check’ - PL
Simon Busuttil is losing touch with reality as he remains unequivocally critical of Malta’s memorandum of understanding with China, even though the EU and credit agency Moody’s have claimed that it is a step in the right direction towards balancing Enemalta’s books, the Labour Party argued.
The credit agency also forecasts the possibility of Enemalta registering profit by 2015 and reducing electricity tariffs by 2014. The credit rating agency however said that Malta's energy reform agenda was ambitious but that there were risks to its successful implementation.
Earlier this month, Malta and state-owned China Power Investment signed a memorandum of understanding (MOU) that will see the Chinese power company inject millions in Enemalta and become a minority shareholder within the energy corporation. The government had previously heavily criticised Enemalta, most notably its oil procurement practices and discrepancies while PN was in government.
However, Opposition leader Simon Busuttil had argued that the MOU raises more questions and doubts as the country is still being left in the dark about the permutations of the agreement. Furthermore, Dr Busuttil claimed that the agreement will see Malta lose its independence in the generation of energy.
Meanwhile, in a statement, the PL has insisted that Dr Busuttil’s criticisms are unfounded and the EU as well as credit agency Moody’s have acknowledged that Malta’s overhaul of the energy sector augurs well for Enemalta’s its financial stability and future.
“While the Labour government is working towards safeguarding Enemalta’s future and reducing the electricity tariffs, Simon Busuttil remains isolated in criticising the agreement between Malta and China; criticisms which will ultimately effect Maltese and Gozitan families.”
The Labour Party explained that the credit agency forecasts the electricity corporation posing profit by 2015 and sees the government reducing electricity tariffs by 25% by 2014 as well as cuts for businesses in the following year.