‘PL recognises important role of SMEs in the economy’ - Grech

A Malta business bureau(MBB) delegation led by president George Vella sought commitment for initiatives on entrepreneurship, sustainable water usage, and parliamentary reform in a meeting held this afternoon with PL deputy leader Louis Grech. Also present for the meeting were PL president Stephan Zrinzo Azzipardi and executive secretary Lydia Abela.

Grech said that the PL recognises the important role played by SMEs in Malta’s economy.

“We have made it clear in our electoral manifesto that the role of business is essential. This belief is reflected in our priorities for this sector. We are committed to achieving synthesis between economic growth, the role of citizens and a just society,” Grech said.

The MBB is pushing for an “SME test” at the drafting stage of business related legislation.

“The results of the SME test should be made public prior to parliamentary discussions, specifically on the draft bills transposing EU directives or the subsidiary legislation incorporating EU regulations in the local statute book,” Vella said.

Vella offered the bureau’s technical assistance in relation to the roll out of the SME test process.

The MBB's president said that more efforts need to be made in order to ensure the long term sustainability of Malta’s water supplies.

“Malta extracts nearly 50% more groundwater than is sustainable. Current rates of extraction are not sustainable and the business community is concerned that this could impact on future operations,” Vella warned.

Vella also emphasised the need for more parliamentary reform, saying that it should have an overseeing role like that of a board of directors. He said that the current parliamentary set up affords too much influence to government.

Grech agreed that more rigid scrutiny is needed on the dynamics between the executive and legislative branches of government.