The president of the newly-merged Malta Chamber of Commerce, Enterprise and Industry yesterday called for an urgent stimulus package for the private sector.

"Time is of essence. We need the stimulus package now", Helga Ellul insisted when addressing the first council meeting since the merger.

Ms Ellul said her priorities are to curtail the effects of the international credit crunch on the local economy and make sure the government does not contribute to the negative effects.

The government has to pay its dues to the private sector on time, she stressed, adding that she will be intensifying efforts to help members internationalise as well as pushing for a holistic national energy strategy and its implementation as an acceptable solution to rising energy bills.

She emphasised that the private sector is resilient, dynamic and quick to respond to changing circumstances. "This gives us an edge over other countries or regions and it could be a key factor in exploiting the present situation to the islands' benefit".

She said she would endeavour to make an absolute success of the merger through effective communication with members, fusing the different cultures and analysing the needs of members to facilitate the introduction of enhanced, value-added services.