We haven’t hit peak banality, yet

Jul 28, 2023 7:28 pm CEST

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Clearly, we haven’t hit peak banality, yet. The government wants to resolve the crisis at Enemalta with a new committee for climate change and the Nationalist Party wants to liberalise the distribution of electricity. If PN wants to sell Enemalta – this idea is crazy, and the liberalisation of distribution has practical problems.

First of all, we don’t need more fake committees, and doubling the capital expenditure from 15 million to 30 million is a clear sign these people have absolutely no ideas what they are doing. The other side seems to have a really hard problem grasping basic company fundamentals because if Enemalta was to be sold, it would have to be sold on the pennies on the Dollar given it is unprofitable, losing hundreds of millions every year, and its infrastructure is decrypt.

Enamalta needs a team of technocrats, financiers, and engineers to lead it, and it needs to raise capital – by raising capital I mean raising billions of Euros and it needs to do this by raising debt to invest in new capital projects. Meanwhile, the government has to make an asset-recovery program for assets that have been forfeited from the public through crime and corruption.

Are there any adults in the room left?

Incredible that it is I, an irrelevant idiot who has to say these things.

Mark Camilleri

Website Editor
Historian and Publisher

Comments

Tony

July 28, 2023

Well the deal with Shangai Electric was corrupt so those shares should be seized. Likewise there cannot be any doubt that Electrogas is a corrupt deal. Based on that fact alone the shares of that company should be forfeited in the public interest. Transfer them to Enemalta.

None of the shareholders of Electrogas left to continue receiving the benefits of corruption. An examination should be done as to the extent of benefits they have received and they should each be made personally liable for their ill-gotten gains. Some will plead ignorance of what happened. But that should not exonerate them and leave them to continue to receive ill-gotten gains which are the proceeds of corruption and for which a journalists was assassinated.

The only distinction that should be made amongst the shareholders is who should be made to face criminal charges since for there to be criminal activity there needs to be criminal intent: Paul Apap Bologna, Mark Gasan, Yorgen Fenech are all knee deep in it. It is impossible that Joe Gasan wasn?t aware what was going on. The rest might not have been totally aware of the detail so there should be a proper examination as to the extent of their culpability. But they certainly shouldn?t be left to continue to take it in. They can then sue the aforementioned persons for civil damages if there really is no culpability in their part. Their problem though. The public should continue to carry the can for this injustice.

In fact based if the police had to enforce money laundering legislation with the Fenechs and Gasan alone (and there are so many more they should act against), the country?s deficit would be resolved.

Reply
1. Mjones
  
  July 29, 2023
  
  Ejja.. miskien Paul Apap Bologna is living on the bread line, in 2018 he only declared to have earned ?41,000… and ops since then he forgot to declare anything. Yes, we know dividends are not taxable however, it would be interesting to know how much dividends were distrubted to shareholders in ratio to the profits of the companies of which he is shareholder.
  
  He still has the gall to go out in public and in company of indivuals that pay much more tax then he declares in income when everyone knows he is part of that corrupt deal and leads a flashy lifestyle. Suttatura bajd ghandu bzonn.
  
  https://timesofmalta.com/articles/view/electrogas-investor-income-raises-tax-evasion-red-flags.1040256#:~:text=Modest%20tax%20declarations%20by%20Electrogas,and%20%E2%82%AC41%2C000%20in%202018.
  
  Reply
StuxNet

July 28, 2023

The F******s have all lost the plot, they all need to resign, make way for the small parties and form a coalition as they are too small to govern on their own it’s high time, you lot are useless bickering cunts

Reply
1. MJones
  
  July 29, 2023
  
  PN can’t organise a piss up in a brewery. They should be miles ahead in the polls. Please just go, Bernard and the whole team.
  
  Reply
Sparky

July 29, 2023

I won’t even comment on whatever Labour have to say. They’re in disarray, have lost the plot eons ago and have sold their socialist soul to the highest bidder. They’re in a mess of unimaginable proportion and are dragging this country through that mess. As for the PN suggesting power distribution needs to be shifted to the private sector we must be careful here. This is not suggesting power “generation” needs to be shifted which would be an outright “no-no”. However, distribution and generation work in tandem. So no, this vital pillar – energy sector – cannot and should not be shifted onto the private sector which will inevitably involve companies from other states. We know how large companies have ties with secret service – last thing Malta needs is having another state messing in the country’s pivotal energy sector (oh we already have this, stupid!). So there you go. It is not only Enemalta that needs a team of technocrats but the country as a whole.

Reply
Mark Bartolo

July 29, 2023

Miriam was surely impressed telling us that a transformer is a big thing, the size of a container! Go fathom…

Reply
Leonard

July 30, 2023

Liberalizzazzjoni tad-distribuzzjoni ma jfissirx li tbigh l-Enemalta. Tfisser li jitnehha l-monopolju fuq min iwassallek l-elettriku ggenerat sad-sad tieghek.

Reply
Narcissists wrecking the nation – Mark Camilleri

July 31, 2023

[…] that never happened. Robert Abela and Miriam Dalli are addressing a serious national crisis with gimmicks. In 2021 Enemalta blamed its woes on high gas prices, but this problem was exacerbated by a stupid […]

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We haven’t hit peak banality, yet

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