Where have all the monies gone?

The saga started with parliamentary question no. 5564 tabled by Michael Axiaq on May 6, 2004 to Minister Austin Gatt. In his reply, Dr Gatt then Minister of Information Technology and Investment, advised that the sum due including interests, in...

The saga started with parliamentary question no. 5564 tabled by Michael Axiaq on May 6, 2004 to Minister Austin Gatt. In his reply, Dr Gatt then Minister of Information Technology and Investment, advised that the sum due including interests, in connection with the timber carriers, was $121,443,261.

On October 7, 2008, Finance Minister Tonio Fenech, in reply to a parliamentary question, one of a series, by Carmelo Abela, advised that the Maltese government had accepted $9 million in full and final settlement, out of the $32.9 million for the construction of the timber carriers.

Quite a difference. What happened to the rest? Did it go all into penalties due to late delivery? What about the other monies, amounts not as yet made public, due to Malta from Russia which include repayments under the Malta-Soviet Union Trade Protocol of 1987-1990 and the Malta-Russia Trade Exchange Protocol of 1992?

Could we taxpayers be informed of what is happening to our monies?

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