I know practically nothing about professional accounting and auditing practices or the current market values of any type of sea vessel and so I am in no position to decide whether the recent (reportedly enhanced) re-evaluation of Sea Malta’s assets is true and fair or merely cosmetic.

As a Maltese citizen I am in favour of the government adopting all responsible cost-cutting measures and, like many other compatriots, am troubled by the fact that so much of our hard earned cash goes (through taxes) to finance several loss-making entities and government departments and thus increase the national debt plague/curse.

However, I am very concerned that if Sea Malta’s sale to a foreign company goes through, Malta will lose its only state-controlled shipping company. Even if this company has reportedly always made a loss, one should keep in mind that Sea Malta helped to provide an effective service to our country’s exporters of locally-produced goods and thus indirectly contributed to the acquisition of much needed foreign currency. It also helped local manufacturers compete in foreign markets by providing an adequately frequent and reliable delivery service and thus probably also contributed to the retention of a number of jobs in the island.

Besides, what if our country should – God forbid – ever find itself in a position where the government urgently needs a ship to tackle an unforeseen emergency? Even if the new owners of “ex-Sea Malta” decide to register their ships/vessels in Malta and retain a company office here, it will still be no easy task to requisition a ship for a national emergency, should this ever arise.

It seems to me that the sale of Sea Malta to foreigners will create more problems than it solves, even if the whole exercise is being marketed to us simple citizens as the “disposal of a loss-making entity”. Do please think again.

Marianna Galea Xuereb

Dingli