When no successive government has been able to put the dockyard on its feet since its conversion for commercial ship repair work, it is difficult imagining how any Administration can do this in the short time left before the government has to stop state aid to the enterprise in accordance with what has been agreed upon with the European Union.
The former chairman of the enterprise, now called Malta Shipyards, some time ago held that the 'yard was "within striking distance of achieving operational viability". However, its financial performance does not hold much promise, at least according to figures published so far.
As expected, it was inevitable that the 'yard would figure prominently in the election campaign. For one reason or another, it is always one of the key issues. A seven-month overtime ban at Malta Drydocks just before the 1971 general election had crippled not just the enterprise but also the Nationalist government of George Borg Olivier.
Hardly any industrial action has had a more blatant political motive than that overtime ban, which was called by the then metal workers' section of the General Workers' Union.
The ban was called off immediately after Labour's victory at the polls. A lot of water has passed under the bridge since then but, despite all the efforts that have gone into the attempt to put the 'yard on a sound financial basis, it still required heavy state aid to keep it going.
All the reforms done over the years, including direct participation of the workers in the board, have defied the ultimate goal of profitability drawn up by the experts.
The latest attempt, called a restructuring plan, was that launched in 2001. Again, its principal aim is to lead the 'yard to commercial financial viability. However, the key point in the seven-year plan is that aid to the yard has to stop by the end of the plan period, that is, the end of this year.
Now that the deadline is within sight, and that it looks very doubtful if the 'yard would make it by the end of the year, concern is mounting once again over its future. Labour are saying that, if elected, they would try to re-open talks with the EU over the 'yard in order to keep it going. On their part, the Nationalists hold they could get the 'yard back on its feet through a genuine effort from everyone concerned. Labour have been told that it is not possible to re-open the Malta-EU package but their leader insists it is, throwing the issue into deep uncertainty.
Had it not been election time, perhaps it would not have been irrational on the government's part to plead with the EU for an extension of the deadline.
Have all the countries in the EU met established targets for the cutting of state aid? The trouble with Labour's proposal is that, in view of its past stand against EU membership and, also, against the introduction of the euro at this stage, many are considering the party as a eurosceptic. More directly, they fear that Labour's reaction to a possible "no" from the EU to a request for reconsideration of the deadline could lead to deterioration in the island's relations with the Union.
When the two main parties clearly agree that there is still a place in Malta's industrial set-up for Malta Shipyards, it would be a pity if matters get stuck in a situation that would inevitably lead to its closure, more so when, according to the former chairman, "Malta Shipyards is capable of achieving self-sufficiency by 2008, or at the most 2009". Insufficient investment in the 'yard's infrastructure and work practices that lead to a rate of productivity that is lower than that needed to take the 'yard out of the red are two of the most pressing problems. Maybe, one last extra drive could save the 'yard. It will be worth the effort.