The liberalisation of the inland fuel market has been delayed, and is now estimated to occur by the end of March 2006, a Malta Resources Authority statement said yesterday.

The government and the authority are reviewing particular proposals for changes to the original plans and proposed policy. Given the importance of this market to the national economy and to consumers, it is considered prudent to consider all new options that will result in a market organisation that will better meet the needs of the country, the statement said.

The proceedings will be as follows. The Malta Resources Authority will issue a consultation paper intended to inform stakeholders and the public at large of the proposed changes. This paper will include the draft legislation that will provide the legal framework for liberalisation as well as the proposed licensing schemes and conditions. Authority officials will be available for meetings with stakeholders during the consultation period.

Further meetings with stakeholders can take place after the end of the consultation period, when all the suggestions and responses to the consultation paper will be considered and the final proposals submitted to the government.

All existing operating licenses are to remain in force until replaced by the new licenses. Malta Resources Authority will be in a position to grant new licenses to the various operators by the beginning of the second quarter of 2006.