Labour's energy promises 'irresponsible' - Gonzi
Ignoring international price of oil is irresponsible Prime Minister Lawrence Gonzi says on Labour's vow to reduce utility bills.
Labour is being irresponsible by ignoring the volatile price of oil on the international market in its pledge to decrease utility bills, Prime Minister Lawrence Gonzi said.
Speaking during a visit to the Playmobil manufacturing plant in Hal Far, the Prime Minister said: "We would be taking people for a ride if we did not factor in the effect of international oil price on the cost of providing energy."
He added that his administration addressed the issue by offering companies and industry a particular formula for energy consumption.
However, while acknowledging the effect of utility bills on industry, Gonzi said that companies "also have a part to play" by investing in energy efficiency.
"The government will not subsidise the waste of energy but is prepared to work hand in hand with industry to increase efficiency in power consumption."
Playmobil CEO Matthias Faufer announced that the German toy factory is planning to invest €15 million in new machinery and an upgrading of facilities.
Admitting that Malta's utility rates are among the highest in Europe, Faufer said energy consumption is "a major cost for Playmobil" and noted that the company had prepared an industrial policy paper which it presented to Malta Enterprise. He expressed hope that the policy paper will be discusses shortly.