Issue link: https://maltatoday.uberflip.com/i/1013924
Newspaper post YOUR FIRST READ AND CLICK OF THE DAY WWW.MALTATODAY.COM.MT 2 maltatoday today today SUNDAY • 12 AUGUST 2018 • ISSUE 979 • PUBLISHED EVERY WEDNESDAY AND SUNDAY Wheely high! Love heights? Malta's Ferris wheel proponents offer a glimpse into the views they're offering PAGE 8 MATTHEW VELLA THE shareholders of the private bank Pilatus have demanded that the Maltese financial regulator allows them back on the board of directors in a bid to wind-up the bank, fearing further losses of assets under its present control- lership. Pilatus Holding Ltd said it wants to exercise its voting power to dissolve the bank, in a request it made to the Financial Services Tribunal to oppose the appointment of a controller to take over the bank's running. The bank was ordered to cease trading by the MFSA after the arrest in the United States of chairman and owner Ali Sadr Hasheminejad on charges of breaching US sanctions against Iran, which predate the opening of the bank in Malta in 2013. The bank was at the heart of accusations by the late journal- ist Daphne Caruana Galizia that it had processed a $1 million transaction from the Azerbaijani ruling dynasty to Joseph Mus- cat's spouse: an allegation that turned out to be untrue. Since the publication of the Egrant inquiry conclusions, the bank has been on the offensive against its detractors. In the last tribunal sitting, the MFSA objected to a question from Pilatus Holding to bank controller Lawrence Connell, demanding to know which is- sues were raised by the MFSA in relation to the concerns that led to his appointment, apart from those in the public domain. KURT SANSONE BIGGER incentives are on the way for people who are careful with electric- ity consumption as government tar- gets changes to the eco-reduction mechanism, MaltaToday has learnt. But it remains unclear whether the review currently underway will bring changes to the two-monthly billing system that was at the heart of much controversy earlier this year. Energy Minister Joe Mizzi said the review process he promised before Parliament went into summer recess was at an "advanced stage" and in a couple of months' time he would pre- sent Cabinet with a proposal. "The tariff mechanism created back in time with the polluter pays principle in mind through the dif- ferent bands and the introduction of an eco-reduction will be retained in principle but we want to create greater incentives for people to consume less," Mizzi said. greater incentives for people to consume PAGE 4 PAGE 3 Pilatus demands control of bank €1.95 The truth, nothing but... Brikkuni frontman Mario Vella in our MaltaToday Q&A 2 Is Malta's rapid pace of change fuelling an anxious fear of child abduction? PAGE 5 An irrational fear Wheely high! Love heights? Malta's Ferris wheel proponents offer a glimpse into the views they're offering PAGE 8 THE NUMBERS DON'T LIE Kurt Sansone on what Adrian Delia must do to halt the PN's troubles PAGE 6 Electricity billing system review in its final stages