Clearly, we haven’t hit peak banality, yet. The government wants to resolve the crisis at Enemalta with a new committee for climate change and the Nationalist Party wants to liberalise the distribution of electricity. If PN wants to sell Enemalta – this idea is crazy, and the liberalisation of distribution has practical problems.
First of all, we don’t need more fake committees, and doubling the capital expenditure from €15 million to €30 million is a clear sign these people have absolutely no ideas what they are doing. The other side seems to have a really hard problem grasping basic company fundamentals because if Enemalta was to be sold, it would have to be sold on the pennies on the Dollar given it is unprofitable, losing hundreds of millions every year, and its infrastructure is decrypt.
Enamalta needs a team of technocrats, financiers, and engineers to lead it, and it needs to raise capital – by raising capital I mean raising billions of Euros and it needs to do this by raising debt to invest in new capital projects. Meanwhile, the government has to make an asset-recovery program for assets that have been forfeited from the public through crime and corruption.
Are there any adults in the room left?
Incredible that it is I, an irrelevant idiot who has to say these things.