News | Wednesday, 25 February 2009

Fenech adopting the right approach – Helga Ellul

After local industry players called on government to issue support measures aimed at helping the economy through tough times, it now seems that Finance Minister Tonio Fenech is back on the good books of local manufacturers and importers.
In an exclusive interview featured on pages and 8 and 9 of this edition, the newly appointed MCCEI President Helga Ellul said government is adopting “the right approach” in facing the international economic downturn’s impact on Malta.
At a special MCESD meeting with the Prime Minister last month, Ellul tabled a set of proposals aimed at stimulating the local economy at a time when prospects are looking bleak to many stakeholders. Reacting to the proposals, last week Finance Minister Tonio Fenech told Business Today that although government might consider taking up some of the proposals put forward to the MCESD, no blanket measures will be adopted. Fenech insisted on taking situations on a case by case basis by means of a specifically set task force, and based on a firm’s individual needs, government will help only if it sees a future for the firm in question.
“We have been informed of how a specially set up task force will tackle the issues we are facing. We are very much in favour of this move,” Elllul said. “I think what the Government is trying to do at this moment is to see the areas and trying to gauge the issues and the problems so as not to let them escalate, rather than adopting a blanket approach.”

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