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Nationalist Party faces financial meltdown

Staff members blame Joe Saliba’s overspending and Paul Borg Olivier’s lack of management skills for PN’s financial woes.

31 March 2013, 12:00am


Crass mismanagement and a lack of forward planning has left the Nationalist Party and its commercial companies in very serious financial difficulties, rumoured to run into €8 million.

The situation has led to inevitable redundancies, but when contacted for comment, deputy leader Simon Busuttil told MaltaToday had not yet seen the accounts. Pressed to comment on the 'redundancies' he insisted that he had was busy over the past four months and "had not seen the accounts".

The massive debt accumulated by the party and commercial entities has been piling up over the past 10 years.

Department heads who were called to meetings last week at the Pietà office met PN secretary-general Paul Borg Olivier and were told that March salaries would be paid at the end of April.

The heads were told that they could not ask any questions. The PN will start dismissing part-timers this week, and downsize staff.

Employees and staff members who have worked for years at the Stamperija are up in arms at the way Borg Olivier has tackled the whole matter. 

The financial woes at the PN continued to spiral down after the departure of Joe Saliba as secretary-general and campaign manager in the last election. Saliba was responsible for some serious overspending in the construction of the new headquarters and for not seeing to payment programmes.

Business magnate Zaren Vassallo has bankrolled the PN on several occasions, as MaltaToday revealed during the election campaign.

Several PN employees who talked to MaltaToday said that the PN needs a complete facelift, adding that none of the present administration - including deputy leader Simon Busuttil - should consider standing for election.

PN staff members told MaltaToday that party newspapers and Net TV are effectively financial loss-making machines, and it was not at all viable for the party to maintain these operations. Many suppliers - from leasing to newspaper print - have not been paid by the party. Meanwhile, the travel agency Eurotours owes thousands to Air Malta.

One senior manager told MaltaToday: "We are in a financial mess. It was clear from the onset that Paul Borg Olivier did not have the necessary organisational capabilities - but even Lawrence Gonzi has a lot to answer for, for not tackling the situation beforehand."
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Winston John Sawyer
wara li kissru pajjiz,kissru kull entita,bieghu il fidda tal pajjiz,fallew AIRMALTA,SEAMALTA,ENEMALTA,DRYDOCKS,SHIPBUILDING etc etc issa kissru partit!!!x misthija!!!
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Winston John Sawyer
wara li fallew pajjiz,kull entita lokali,bieghu il fidda tal pajjiz u kissru AIRMALTA,SEAMALTA,ENEMALTA,TELECOM,SHIPBUILDING,DRYDOCKS
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Yanika Chetcuti
Another "Price Club" in the making as far as employees and creditors go! Not so the big wigs and hidden power brokers.
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Our finances are stable there is nothing to worry about just kerp on supporting the party and please dont forget to buy the goverment bonds when they come out since we need to finance our debts since we need to spend more money before it all run out then we will blame the next goverment for our mess.
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manuel piscopo
I wonder if PBO and Jean Pierre Debonoare going to work as volunteers now and wave their wages
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David Darmanin
Jason Azzopardi is urging Nationalist MP's to donate two months salary to the party. How about asking for a bailout from Opus Dei ? The party has been actively promoting its interests during the last years !!
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mela ma biehx biz-zejjed figolli? biex mghandomx biex ihallsu ghal pagi
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patrick mifsud
Finanzi Fis-Sod
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This latest PN debacle following the abysmal general election results gives a lot of substance to reports we are getting here in Australia that the party is now pleading with former party leader, PM and Malta President Eddie Fenech Adami to make a political return in an attempt to save the party! How desperate is that?
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This latest PN debacle following the abysmal general election results gives a lot of substance to reports we are getting here in Australia that the party is now pleading with former party leader, PM and Malta President Eddie Fenech Adami to make a political return in an attempt to save the party! How desperate is that?
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Christopher Cilia
Ma nafx ghalfejn staqsejtu lil Simon Busuttil, dak ma jafx ghax mhux ta' zmienu. Smajt flok BC u AD, iz-zmien ser jibda jitkejjel BS (before Simon) u AS (After Simon).
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Manuel Scicluna
To think that these same people were left to run the country, when they couldn't even keep their own house in order, makes one shiver. Country debt, PN debt- it all adds up.
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Martin Micallef
Would this reality have surfaced if PN won the election? Seems this party is based on false hopes and bluff.They are not even able to keep up their finances in a healthy position let alone how they can do it for the country.....Future Fis-Sod u Ghal-gol Hajt.
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Partit li sahha ma halliex flus fil-but in-nies l-anqas halla f'daru stess,sew ghid il-Malti.Tiehu minghajr ma trott , is-swar thott,u hekk ghamlu,
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Joe Bugeja
This is a total and complete meltdown for the PN.....The PN needs to regroup fast. I have been watching and saying that the PN has been self destructing since Fenech Adami left, and the Paul Borg Olivier, Gonzi and Gatt highjacked the party. Time for a clean slate and the likes of borg olivier, saliba and gonzi need to step aside to allow other PN members to become leaders. The party also needs to become inclusive and allowing dialogue between all members of maltese and gozitan nation. Also, the PN must ensure that its logo and motto is that it is working to put the the naltese and gozitans citizens first and then europe not the other way around.
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Kieku l-Ministru Konrad Mizzi jghidilna jekk parti mid-dejn li ghandu l-PN jistax jinkludi xi kontijiet tad-dawl u l'ilma jkun qed jaghti taghrif siewi. Ghax ma ninsewx taht Gonzipn kemm mijiet sfaw bla servizz ghax ma setghux ihallsu. Imma mhux sewwa li l-gvern jaqta' is-servizz lil PN bizzejjed jinsabu fi dlam cappa
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Rebecca Muscat
This is what they wanted to aviod right now,a financial meltdown after a political meltdown. Who knows what next in store? The party in liquidation?
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Better Future
Mhux bilfors li jigri hekk meta issa regaw marru lura dawk li kienu assenjati fid-dipartimenti u kienu qed jiehdu s-salarju mil-Gvern. Kollox kien jimxi bhal ma mexa l-gvern jonfoq jonfoq u jibqa jonfoq b'Joe Saliba kien u ghadu fit-tmun!! Minn jaf kemm hu d-dejn tal-Gvern li ghadu ma jidirx. Hemm biza li meta johrog dan inkunu vicin Cipru!! Fejn huma l-Finanzi Fis-Sod!!!!
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What a load of bollocks !!! grow up PN !!
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Josanne Cassar
I do not believe that the financial hole goes back a decade. I believe that the worse part accumulated very recently. With no funds coming from businessmen who closed their purse when Zaren Vassallo and Joe Saliba took the lion's share in all sorts of business. A second reason may be the loss of commissions from oil purchasing. Afterall the PN party was also given a Maltese clock like other political persons received to influence oil procurement.
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Ma naghmlux mod li konna qeghdin inhallsulhom l- pagi mill- kaxxa ta' Malta lil dawn hux? Ghax dina naqra stramba ezatt malli ntilef l- Gvern. Mhux qed jippretendu li naghmlulhom xi gabra bhal ta' Puttinu hux? Mela nsew kemm keccew u dahqu b'impjegati ohrajn dawn fi zmienhom. Nibdew insemmuhom???
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Paul Debono
@Robert Norman Sorry I do not agree with you. If I were a contractor I would reply to them that I already paid my dues to them to get the contract in the first place. Poor employees and their families
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Josanne Cassar
How can the deputy leader lead an electoral campaign withiut knowing the available financail resouces? Simon must have known about the adverse state of the party's finances from day one. There's no doubt about this. So with such a comment he continues to add to his endless list of gaffes and amusing quotes which hardly justify his nine year stay at the European Parliament.
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Rachel Roberts
Din iT-TMEXXIJA TA' GonziPN? Din il-VIZJONI ta' gonziPn? Hadd qatt ma ta' xi sinjal? Dawn jahbu lill taghhom mela ara kemm jahbu lill Poplu Malti! Ara kemm hergin sorprizi......
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Marcelle Agius
The Commission appointed to investigate the reasons for the electoral defeat should instead investigate what went on in the PN during the last 8 years and expose all the sleaze and skulduggery that ensued. PN apparatchik were very reckless with wasting other paeople's money - money no problem mentality but one day the chickens will come home to roost. Now is the time for the group of genuine Nationalists who have been marginalised by the clique to split and form a new centrist third party,
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Lionel M. Cassola
To all those who benefitted from government contracts, under the previous administration, it's payback time. Lestu c-cheque books ghax daqt iccemplulkom il-qanpiena. As usual it will be the employees who will bear the brunt and the sacrificies. Our solidarity with pn employees.
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Joseph Borg
NOW they are in financial crisis ! Why not then, when in power ! Meditate gente meditate !
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anna caruana
Lino Cassar, alla jahfirlu, kien jghid li l-PN hu partit bla kap u bla kuda. Kemm kien jghid tajjeb. Kieku ghadu haj min jaf x'issejjahlu llum? U darb'ohra niftakar l-istess Lino Cassar jghid li l-PN hu a "Tile-Ruining Inferno"!. Nahseb zewg titli li ghadhom jghoddu sal-lum.
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Lennex Brincat
Tiskanta dan Buzullotti hlief jahrab mil-verita ma jafx jaghmel. Hlief ma jafx, m'ghandiex informazzjoni, ma rajtx l-accounts u qabda hmerijiet ohra ma jafx jghid. Jien ma nafx kif dan qed jaspira li jmexxi il-pn bic-cucati li jghid. Wisq nibza li din hi kolla kemm hi smokescreen ghax jafu li erba t'ijiem ohra jkollhom jikxfu l-accounts taghhom bil-fors ladarba tghaddi il-ligi tal-finanzjar tal-partiti. Msieken qed jilghabuha tal-falluti. Falluti bil-provi mil--voti, mil-idejat, mil-leadership izda mil-flus ibqaw zguri li mhumiex falluti ghax hemm iz-ziju Zaren jaghmel tajjeb.
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8 million euro divided over the klikka in equal shares is peanut money..!
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George Muscat
Dak il-"Futur fis-Sod" li kien ihambaq Gonzi?? PArtit Nazzjonalista - Falliment totali, partit tal-kastelli fir-ramel. Mhux biss farraktu pajjiz imma anki il-partit taghkom stess. L-Istorja irrepeti ruha, Sir MIchael Gonzi farrak il-Knisja f'Malta u in-neputi farrak pajjiz u partit. L-Ghid it-tajjeb lil KULHAD ghaliex Malta taghna Ikoll. Ejjew ha nahdmu biex Malta taghna issir l-aqwa fil-dinja u mhux fl-eu. Nibdew bill naghmlu Gustizzja ma kulhadd u kulhadd jiehu dak li haqqu
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Manuel Scicluna
Perhaps Zaren will buy the PN outright!
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U Iwa ghalfejn dan l ghageb kollu 8 miljuni l hawn u 8 dejn mhux flus,Saliba xorta tajjeb ghax jithallas minghand Zaren u nahseb tah bajda tal ghid jew xi figolla Enjoy it now PN Finanzi gol Hajt sirtu qiskhom beautiful jew sentieri Tilghabu l loghba tal vergni izda tafu sew li biex tiskongra trid tkun pur
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Malcolm Mifsud
This is going to be the scandal which will rock the PN from its very foundations and hopefully give rise to a new PN movement in the soul and spirit of the original selfless curators of the party. Let us remember that at the time of Nerik Mizzi and Giorgio Borg Oliver one ended up financially much worse off in serving the party. The PN has created a glitzy self serving facade with a glass palace to boot. It now lacks a soul and spirit or a clear popular vision. It is no longer directed by its members but by a factional cadre of delegates. Time to go back to the roots, forego the rich trappings and focus on becoming once again a true nationalist movement. Where is the visionary who can remould the party?.
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Alexander George Camilleri
final countdown?
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Lanqas fi hwejjighom ma huma 'Finanzi fis-Sod' ahseb u ara fi hwejjeg haddiehor!
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