Bank of Valletta shareholders should be given all the information necessary by the board of directors about various controversies in which the bank has been making the headlines, PN officials said today.

Claudio Grech, shadow minister for economic affairs, said it was becoming clear that the government had to intervene directly to fund the new power plant as other banks have refused to provide the necessary funding.

The Sunday Times of Malta had revealed that last December the government guaranteed an unprecedented €88 million so that BOV could provide a €101 million loan to fund the private entity building the new power plant.

PN deputy leader Mario de Marco, who is shadow minister for finance, said the bank should put shareholders' minds at peace that it was not taking unconventional risks.

Mr Grech said that the news revealed this week that the lead partner in the power plant project, Gasol, was is in serious financial trouble continued to boost the suspicion that BOV had to intervene in order to save the political future of the prime minister.

Marthese Portelli, shadow minister for energy, said that BOV has also not explained why Parliamentary Secretary Michael Falzon was given a €260,000 golden handshake with a special clause to enable him to return to the bank when he did not occupy political office any longer.

Kristy Debono MP said Bank of Valletta was not  a government department and should strictly follow sound banking practices.