The Democratic Party is proposing the setting up of a parliamentary committee whose task would be to scrutinise the financial and gaming watchdogs in a bid to improve good governance.

Details on this proposal were divulged during a news conference on Saturday addressed by PD MP Godfrey Farrugia and party leader Anthony Buttigieg.

In a Private Member's Bill, the PD is proposing a 'Committee for the monitoring of the Regulatory Entities in Financial and Gaming Sectors' to be chaired by an Opposition MP on the same lines of the Public Accounts Committee.

It would include representatives from all elected political parties but the government would have an overall majority of members.

Dr Farrugia noted that the idea was to increase the level of scrutiny in the Malta Financial Services and Gaming authorities in the wake of what he described as the systematic weakening of the checks and balances of the country’s supposedly independent institutions.

Asked if this would risk becoming another talking shop without the power to intervene, the PD MP insisted it would serve to pile pressure for greater accountability, transparency and integrity. He noted that recent experiences, such as the fuel policy revision, suggested that these committees were managing to influence decisions.

“If they really believe in accountability this is a golden opportunity for the PN and the PL to support this Bill,” Dr Farrugia said.

PD leader Dr Buttigieg insisted that the party was against the idea of direct EU intervention to address certain shortcomings in good governance issues.

The country had to start taking its own measures to ease the pressure being piled by EU institutions. Otherwise, the repercussions would be much worse and the entire country would suffer, he warned.

The Private Member's Bill is attached.