Ray Bugeja to head PN finances commission

Entrepreneur and PN leadership contestant Raymond Bugeja will head a commission which will review the Nationalist Party's finances and commercial entities.

PN leader Simon Busuttil set up the commission today saying it would be analysing the party's finances, its commercial operations and the financial situation of companied owned by the party.

The other commission members are MPs Tonio Fenech and Claudio Grech, former air Malta and Malta Enterprise chairman Lawrence Zammit, public relations consultant Chris Scicluna and former Transport Malta chairperson Mark Portelli.

Busuttil expressed hope that the commission would carry out its task in the shortest time possible to ensure that the PN's finances are back on track at the earliest.

Though the PN's liquid finances have run dry, with its debt believed to run into figures over €8million, the party remains asset-rich, particularly when it comes to property.

It is believed that Bugeja, a successful businessman himself in Malta and abroad, has suggested an innovative membership drive with the aim of bringing the party closer to the people, which would be accompanied by an additional drizzle of funds into the party's coffers. 

Speaking to MaltaToday earlier this month, Bugeja said:  "If one takes €8million debt and splits it over 20,000 registered members over five years, it will amount to simply €400 each, meaning a mere €80 annual per member," however prior to making any concrete proposals, Bugeja remained adamant about the need to view these reports.