PN leader Simon Busuttil said today that if the government refuses to discuss the motion filed by the PN to debate the fuel prices by early next week, it would insist that it is discussed by Thursday latest.
He was speaking this morning during a meeting with social partners who sit on the committee for economic and social development.
The PN Leader declared the need for a substantial reduction in fuel prices, stating that a 1 or 2 cent reduction would not be enough. During his introduction, Dr Busuttil stated that Energy Minister Konrad Mizzi will hold a MCESD meeting on 9 February on the issue, "however this is too far away, we need immediate reductions".
He said that high fuel prices effect both consumers and businesses and asked the MCESD members present to help put pressure.
A short presentation by PN MP Marthese Portelli was given, where she said that statistics taken from EU Commission Statistics and Energy.eu show that Maltese prices are among the highest in the EU. She compared the price for diesel and petrol with those in 2009 and 2011 of the EU member states and calculated the reduction in cost when compared with todays prices, she said. Members of the press were asked to leave after introductory remarks in order for the organisations to speak freely without pressure.
GWU 'refuses' to attend meeting
Dr Busuttil said that two representatives did not attend the meeting this morning and these were the MHRA who were unable to send a representative and the General Workers’ Union who refused to attend this morning’s event.
Hedging: Consumers must not pay the consequence
Following the meeting, Dr Busuttil took questions from the media and was asked about fuel price hedging
“If hedging occurred, the consumers and the economy must not suffer, more so now when Enemalta has been privatized. Answer me, why must consumers pay the price for a mistake made by Enemalta”.
A question was asked relating to an overnight rise of in fuel prices and how a government would be able to exit from a hedging agreement. Dr Busuttil said; “In the past there have been hedging agreements and such agreements can have positive or negative effects. The consumer however must not pay the consequences for bad agreements. When prices were around 50c per litre, the price in Malta stood at around 94c. It is important for our prices to reduce substantially and immediately.
“Our policy was clear. There was a mechanism where when the oil price reduced, the price in Malta would reduce. When international prices rose, so did those in Malta. This means that we are currently locked onto a high oil price, which is a mistake”.
“I want the Maltese consumer to benefit from the reduction in international prices. If hedging was wrong, then consumers must not suffer.
“The members of the MCESD realized that this is an open and shut case and that the price of fuel must reduce. The members who attended will raise this issue in the next MCESD meeting and will insist that government reduce the fuel price immediately”.