The Nationalist Party is reviewing its nationwide portfolio of properties - including its network of party clubs - on a "case-by-case basis" as part of an ongoing effort to strengthen recurring income and place the party's finances on a more sustainable footing, PN CEO Sabine Agius Cabourdin has said.

Replying in writing to questions submitted by The Malta Independent on Sunday, Agius Cabourdin spoke about the Nationalist Party's current financial position and repeatedly referred to an ongoing review of the party's property portfolio.

Agius Cabourdin said that while the PN's assets exceed its €11.7 million debt, asset value does not necessarily equate to liquidity.

She explained that updated valuations and financial assessments are currently being carried out with the involvement of independent professionals, with each property being evaluated on a case-by-case basis to determine its financial reality and potential.

Agius Cabourdin said that restructuring and the modernisation of the party's financial model are the key priorities.

While she spoke of the need to make more efficient use of party-owned spaces and to explore revenue streams beyond traditional fundraising, her replies remained focused on the "ongoing review process" and stopped short of detailing specific initiatives through which underutilised properties may be converted into regular income-generating assets.

Agius Cabourdin also said that a structured plan to reduce the party's debt is already being implemented, with progress expected to be reflected in the PN's published financial statements in the coming financial year.

Agius Cabourdin's comments suggested that the PN's internal restructuring and asset optimisation efforts are still at an evaluative stage.

The PN CEO's responses to questions sent by The Malta Independent on Sunday are reproduced below:

At the end of his first 100 days as leader, Alex Borg said that the PN has more assets than debt, with the debt standing at €11.7 million. How much of these assets are actually income-generating, and how much are tied up in property that cannot easily be monetised?

My remit is to ensure that the party's assets are professionally managed and that its financial structure is sustainable for the future.

As the Leader has stated, the party's assets exceed its €11.7 million debt, and a substantial portion consists of property accumulated over decades whose value substantially exceeds our liabilities.

The party owns its properties in full. That places us in a position of strength, able to maximise revenue where viable while preserving a lasting footprint in the communities we serve.

However, asset value is not the same as liquidity. One of my early priorities was to initiate a comprehensive review of the party's property portfolio. Together with a team of independent property professionals including architects, accountants and real estate specialists, we are conducting updated valuations and assessing each property on a case-by-case basis, including properties where valuations required updating.

In parallel, we are restructuring debt and modernising our financial model to strengthen recurring revenue and ensure long-term discipline and stability.

Putting assets aside, is the PN currently bringing in enough steady income every year to cover its day-to-day costs and repayments or is it still relying on one-off fundraising efforts to stay afloat?

The Nationalist Party is primarily a political organisation, not a commercial enterprise. However, we recognise that financial sustainability is essential to support our work.

Our operations are funded through ongoing support from hard working Maltese and Gozitan families, structured fundraising initiatives, and income generated from party-owned assets. These assets form part of a broader long-term financial strategy.

Strengthening steady, recurring income remains a priority to ensure that our annual obligations are met in a structured and sustainable way.

Beyond maximising property assets, what new revenue streams are being explored? The party relies heavily on donations and fundraising events, which can fluctuate based on the economic climate. However, there is a limit as to how much people can donate. What other ways is the party considering/doing to raise cash?

The party has always been funded primarily by loyal supporters who believe in what we stand for. That remains our foundation.

As already mentioned, we are also making better and efficient use of our properties to strengthen our income.

At the same time, we are looking at other revenue streams that are compatible with our values and viable in the long-term. This is being done carefully and responsibly, with one clear principle in mind: to strengthen our financial position without ever compromising our political independence.

Have you carried out a full review of all PN properties, clubs and subsidiaries? Which ones are making money, which ones are losing money, and what are you doing about those that are not pulling their weight?

The party carries out periodic reviews of its properties, clubs and subsidiaries, and in recent months we have intensified that process.

This is not a one-size-fits-all exercise. Each property has its own history, community role and financial reality.

We are therefore assessing everything on a case-by-case basis through updated valuations, financial analysis and, importantly, listening to the communities involved.

Our responsibility is to manage the party's assets prudently while safeguarding our presence in local communities. Striking that balance requires a thorough and careful review, and that work is ongoing.

The PN has dozens of clubs around the country. Many are underused outside election periods. What concrete steps are you taking to turn these spaces into regular income generators rather than just political meeting points?

The party's clubs are important community and political assets, and they already serve an active role beyond election periods. Our responsibility is to ensure that these assets are managed with structure, accountability and long-term sustainability in mind.

At the same time, each property tells a different story. That is why we are reviewing our properties on a case-by-case basis and carrying out a thorough assessment of their individual realities and potential.

It is essential that our clubs exercise responsible asset management. Every square metre owned by the party must contribute politically, financially, or ideally both. That is the standard we are setting.

Under Simon Busuttil, the PN introduced the 'ċedoli' scheme in 2016, where individuals lent €10,000 over 10 years at 4% interest. How many of these agreements remain outstanding, and how much does the party still owe in total under this scheme? Will the scheme be renewed?

All ċedoli agreements are being honoured, with capital and interest consistently paid in full and on time. The scheme remains active, and individuals may still enter into private lending agreements with the party.

In 2022, former Leader Bernard Grech said the loans would be honoured in full, including interest. When do the bulk of these loans fall due, and does the PN have the cash ready to pay them back?

The party's loan facilities are structured with maturities spread over time.

Repayments are made in accordance with agreed schedules.

The party has always honoured every financial commitment it has entered into. Every loan repayment, every instalment and every euro of interest has been paid in full and punctually.

Beyond managing repayments, is there a concrete plan to actively reduce the €11.7 million debt? What targets have you set for bringing it down, and over what timeframe?

Yes, there is a structured plan already being implemented to reduce the €11.7 million debt steadily and responsibly. The impact of that plan will become visible through our published financial statements. As we have committed, our accounts will be published annually, and you will be able to see the progress reflected transparently in the next financial year and beyond.

PN Leader Alex Borg published the party's accounts at the end of his first 100 days. Beyond that one exercise, will there now be a clear commitment to regular, detailed financial updates - including breakdowns of debt, liabilities and asset performance?

The answer to this is in the published accounts where there is a clear breakdown of everything. The published accounts already contain a detailed breakdown of assets, liabilities and financial performance. We will continue publishing our accounts and donation reports annually, as required by the Party Financing Act, to ensure transparency and provide regular updates on the management of our financial affairs.

The PN often criticises the government on debt and fiscal management. How can the party credibly argue for national financial discipline while still carrying €11.7 million in debt? Why should voters trust the PN to manage the country's finances if it is still restructuring its own?

Yes, the party carries debt, and we have been transparent about it.

Under the current leadership, the party strengthened its financial governance structures and published its accounts within the first 100 days, in line with a clear public commitment. That reflects the standard of transparency and accountability we believe political institutions must uphold.

What defines credibility is not the existence of debt, but how it is managed. We are restructuring responsibly, servicing our obligations with discipline, and ensuring stronger internal oversight and long-term stability.

Restructuring requires prioritisation, efficiency and forward planning. Those are not just internal principles but the same standards we believe should guide the country.

Leadership is not about avoiding challenges. It is about addressing them seriously, strengthening institutions, and leaving behind a credible legacy that others can build upon.