Issue link: https://maltatoday.uberflip.com/i/1525812
3 maltatoday | SUNDAY • 25 AUGUST 2024 NEWS KARL AZZOPARDI kazzopardi@mediatoday.com.mt NICOLE MEILAK nmeilak@mediatoday.com.mt THE Nationalist Party has missed an extension deadline to submit its 2021 audited accounts to the Electoral Commission. The Nationalist Party (PN) is yet to submit its audited ac- counts for the years 2021, 2022 and 2023, as well as its dona- tions report for the years 2022 and 2023. The Opposition party was handed a 4 August deadline for its 2021 accounts. Sources close to the PN said that no new deadline was given for the party to submit its 2021 accounts, but it was told to "sub- mit them as soon as possible." MaltaToday is informed that the 2021 accounts are currently being audited, and will submit- ted shortly. The PN also faces a 16 October deadline for its 2022 accounts and donations report. Sources said the 2022 accounts and do- nations report are also being au- dited, and will be filed soon. For its 2023 audited accounts and donations report, the PN has been given a deadline for next January. In an interview with MaltaTo- day earlier this year, Piccinino had conceded it was a short- coming by the Opposition par- ty that accounts had not been submitted, saying they would be submitted "in the coming months." "When they [the submitted accounts] are analysed, one will realise it was an administrative shortcoming, and not a legal one. You must appreciate the PN has its challenges when it comes to resources, and issues with finances," he had said. The Nationalist Party ignored five requests by the Electoral Commission to publish its ac- counts for 2021 and 2022, ac- cording to the commission's reply to a judicial protest filed in court earlier this year. The judicial protest was filed by Labour MEP candidates Daniel Attard and Marija Sara Vella Gafa asking that the PN regularise its position at law. The commission said it asked the PN to file the necessary documents as required at law in letters dated 18 January 2022, 6 April 2022, 12 January 2023, 10 April 2023 and 14 June 2023. In its court reply, the commis- sion said its powers to sanction political parties that fall foul of the law have been curtailed by a constitutional court rul- ing from 2018. The court ruled back then that the commission could not act as investigator, judge and jury on political party financing investigations since this breached the right to a fair trial. Since then, the commission has been powerless in enforc- ing the law and will remain so unless parliament makes the necessary legal amendments. So far, no changes are being prospected. PN misses Electoral Commission deadline extension to submit its 2021 audited accounts Car importers fear credit risks over government Y-plate crackdown CAR importers could face cred- it risks over recent government measures to regulate the local taxi sector. Deborah Schembri, the secre- tary-general of the Association of Car Importers Malta, told Mal- taToday that recent regulatory measures could spell trouble for local importers who have sold sig- nificant quantities of cars to fleet operators through hire purchase agreements. "The recent shocks to the Y Plate system, whether through change in operations by stopping/ limiting Third Country Nationals from being employed or other actions like court actions or freez- ing of assets, does pose a poten- tial credit risk to importers who extended credit and/or stock risk for committed units (still in stock or on order) which shall not be acquired by respective operator in view of the uncertainty/market conditions," she said. A hire purchase is a payment agreement that allows the buy- er to pay off the goods in instal- ments over a period of time. If the buyer defaults in paying the in- stalments, the seller can take back ownership of the goods and try to recover the debts. However, if the buyer is served an asset freeze by a court, the seller will be unable to recover the debts so easily. Data seen by MaltaToday indi- cates that hundreds of cars have been sold by local car importers to fleet operators in the ride-hail- ing industry. Malta's fourlargest fleet opera- tors – WT Global, Agius Trading, eCabs and Knock Knock – have alone purchased 595 vehicles since 2019 from select importers. The importers most exposed to these two operators are Michael Attard and Motors Inc. Trouble has been brewing in the taxi sector amidst a government crackdown on drivers and fleets alike. Last month, the employment ministry decided that it will no longer accept work permit appli- cations from third country na- tionals applying to become cab drivers or food delivery couriers in Malta. This was decided after Jobsplus determined that the labour mar- ket for cab drivers and food cou- riers has reached saturation. As a result, any third-country nation- als who are still abroad and apply- ing to work in these roles will now have their applications refused. Workers in these sectors who want to change employer but re- main in the sector will also have their applications refused. This move effectively closed the tap on foreign labour flowing into the sector. Ride-hailing platform Bolt has claimed that this move resulted in a price surge on its app, owing to a lower supply of cabs. Meanwhile, the government has also cracked down on recruit- ment agencies, which provide la- bour to ride-hailing apps like Bolt, eCabs and Uber. Jobsplus raided the offices of three recruitment agencies last month: WT Global, Ferrugia Fleet and Mela Cleaning. MaltaToday is also informed that investigations are underway at Jobsplus and at the Malta Po- lice Force. Number of vehicles sold Period: 2019-2024(Q1) 220 200 180 160 140 120 100 80 60 40 20 0 WT Global Agius Trading eCabs Knock Knock Michael Attard Motors Inc Michael Debono GasanZammit Industrial Motors Muscat Motors MizziMotors Autosales