The granting of a e150 million loan by the European Investment Bank to the Enemalta Corporation on Monday was, surprisingly and inexplicably, kept under wraps by both the government and Enemalta.
It was only when the EIB itself issued a press release on Tuesday afternoon from Luxemburg that the Maltese media were informed that a deal of such a magnitude had been struck in the crucially important area of electricity generation.
The media is normally requested to attend such activities, and the government propaganda machine does its job in trying to get the most possible mileage out of such happenings.
Yet, this time round, there were no press calls and no public statements made by either the government or the corporation, neither before nor immediately after the event.
The observation is all the more poignant considering the fact that the loan is to go toward the construction of a new power station and an upgrading of Enemalta’s distribution network – substantially increasing Enemalta’s generation capacity by 2010, and revamping the country’s distribution network.
The refurbishment is to include the construction of a new sub-station, underground cable networks and the installation of digital meters.
Moreover, the loan represents the largest investment in the Maltese power sector over the last 15 years, and is also the biggest loan ever to be granted by the EIB for a Maltese project.
The reasons why the government and the corporation chose to remain silent on the day, and the day after, the deal was signed remain unknown. To be fair, Enemalta chairman Ing. Alex Tranter, who signed the deal together with EIB President Philippe Maystadt, did give the national television station his comments on Tuesday, but this was all that the media was given – until Wednesday morning when the Department of Information released a speech delivered to the EIB board of directors dinner on Monday evening, accompanied by a photograph of the actual signing of the loan accord on Monday.
What kept the government and the corporation from issuing a press call for journalists to be present for the signing and ask questions about the deal? If this was not possible, why did the government and the corporation refrain from issuing a statement, through the Department of Information, to inform the public immediately after the deal was signed?
The EIB statement points out that Finance Minister Tonio Fenech had been present for the signing, as is expected of the minister responsible for public finances each time an entity owned by the government enters into a financial agreement. The statement, however, does not mention the presence of the minister responsible for Enemalta, Austin Gatt.
The aim of the deal, according to the EIB, is for Malta to modernise its energy sector to help it meet the fast growing demand, and the development of SmartCity quickly comes to mind in this regard. Secondly, investment in new equipment will enable the reduction of greenhouse gases emissions, and make a major difference to consumers through an eventual introduction of electronic consumption meters.
The aim of the loan is to have more energy with less pollution, positive factors that should he highlighted by the government, and forms part of its efforts to modernise the way energy is produced so as to limit the negative impact on the environment.
The government and Enemalta have obligations towards Maltese citizens and they must also see that European Union regulations are followed to the letter. Such a loan will be of great help in fulfilling such obligations, and this is precisely why the accord should not have been kept quiet.