Prime Minister Lawrence Gonzi this evening launched a code of ethics for board directors in the public sector, a corporate governance framework for public sector entities and a national anti-fraud and corruption strategy.

Speaking in Parliament, Dr Gonzi said the three documents were in line with the commitment on good governance made by the government at the opening of the legislature.

The main aim of the national anti fraud and corruption strategy is to set up an normative, institutional and operational framework for the effective and efficient fight against fraud and corruption in Malta, reflecting both local requirements and international obligations.

The main thrusts of the strategy are prevention, deterrence, detection, investigation and prosecution of fraud and corruption, whilst encouraging and facilitating transparency and accountability.

The code of ethics for directors is based on the standards of integrity, honesty, loyalty, confidentiality, commitment, transparency, accountability and professionalism. It also lays down standards on conflicts of interest, entertainment, gifts and favours and procurement.

The corporate governance framework discusses board responsibilities , the responsibilities of board members and the CEO, management recruitment and the finance committee.

(See also: http://videos3.timesofmalta.com/tomcdn/corporate-framework.pdf and http://videos3.timesofmalta.com/tomcdn/code-of-ethics.pdf

In his speech Dr Gonzi said the consultation process on MEPA reform was now being closed and the time had come for decisions, some of them radical.

He also reiterated that he is prepared to hear ideas on the utility tariffs but this was a reform which had to take place to as to discourage waste.