Gatt denies corporate reshuffle on the cards

Investments Minister Austin Gatt has dismissed as "pure speculation" comments that Government was already contemplating changing the people at the helm of its companies and corporations.

Since the reappointment of the Nationalist government, no meeting whatsoever has been held to discuss any possible replacements, Dr Gatt insisted.

"Government has not even started considering any change in posts," Dr Gatt said, pointing out that last week, Prime Minister Eddie Fenech Adami was away on holiday in the UK. It is the Cabinet which ultimately decides on a change of chairmen. This, however, was not on the agenda of Cabinet, which will meet for the first time since the election tomorrow, Dr Gatt explained.

As is the norm, whenever there is a new administration, the chairmen and directors offer to resign their posts.

"I have so many companies and corporations under my ministerial portfolio to think about, that the replacement of chairmen, if any, will not come at this stage," he said.

Dr Gatt is responsible for Maltacom, Air Malta, Malta International Airport, Enemalta and the Malta Drydocks, among others.

Following its victory at the polls in 1998, the Nationalist government replaced several chairmen of its corporations and companies, some four months after the election.

Dr Gatt described as "pure invention" any possible implications given by a report on the Labour Party's online newspaper Maltastar.com that Government could be putting pressure on Bank of Valletta chairman Joseph F.X. Zahra to step down. As BoV's main shareholder, Government has the right to appoint the chairman.

But Dr Gatt said the appointment or reconfirmation of BoV's chairman would not happen before the bank's next annual general meeting.