Updated 11.30am 

It was time for the Nationalist Part to clear up conflicting media reports about a massive loan it received from a construction magnate, Justice Minister Owen Bonnici said this morning.

Speaking to reporters in front of the Nationalist Party headquarters, Dr Bonnici referred to media reports published yesterday that the PN had repaid a €250,000 loan it received from Zaren Vassallo in the previous legislature. New reports today, he said, referred to emails which indicated the party was still negotiating the repayment.

"This is indicative of the panic and confusion that has taken over the Nationalist Party since this emerged," he said.

Dr Bonnici referred to the findings of an Auditor General report which questioned a deal in which Mr Vassallo attained a large amount of land on the site of the former Lowenbrau brewery for under market prices. The deal had come within a few weeks of the loan.

"Questions need to be answered on this if [PN leader] Simon Busuttil expects us to believe he really does represent clean and honest politics," he said.

In separate press statements issued later in the morning, the PN and Labour Party traded barbs over the matter. 

Dr Bonnici's own PL colleagues called him "fake and isolated", the PN said, as it accused him of lying and sowing confusion. 

In a reply, the PL said that it was clear that "Simon Busuttil has something to hide about the Lowenbrau scandal".