Abela affirms commitment to energy price cushioning

The government will continue cushioning energy prices, to ensure the “long-term stability of our economy and mitigate against the negative impacts of inflation on our households,” said Prime Minister Robert Abela on Thursday.

Inaugurating a €12m factory extension by Seifert Systems at Ħal Far, Ħal Far, Abela insisted on putting businesses' minds at rest by having this strategy adopted due to the “financial prudence” that the Government showed in the previous years.

“Our strategy is clear. We will keep assisting businesses through energy costs which make weight for market failures as an island state relying heavily on transport by sea and air,” Abela said.

Seifert Systems, a German-owned company producing temperature control systems for a wide range of applications, became the first Zero Carbon Footprint factory in Malta thanks to this investment.

Photo: DOI

Abela praised the company for becoming the first of its nature to operate without producing environmental pollution.

The company is now looking into another investment, expanding further and investing more than €9 million in product diversification.

The Prime Minister explained the government is aware of Malta having an issue of skills shortage and mismatch of skills. 

However, despite businesses identifying tightness in labour shortage as a challenge, Abela said the Central Bank of Malta reported that 58% of the firms interviewed by the bank are planning to increase the size of their labour force. 

Seifert Systems currently employs 450 in Malta.