PN says it will publish accounts in 'coming weeks'
NET, the PN's media arm is no longer making a loss, a party spokesperson said
The Nationalist Party will file their backdated accounts and donation reports in “the coming weeks,” a party spokesperson has said.
Since 2021, the PN has failed to present its audited accounts – a legal obligation under party financing law. The party has also not filed its donation reports, which must be presented to the Electoral Commission, since 2022.
However, on Friday, a party spokesperson said the reports will be published soon.
“We will present each audited report as soon as it is finalised – naturally, starting from 2021 and progressing to 2024. All of them will be presented,” the spokesperson said.
Speaking to Times of Malta about the party’s accounts in June, outgoing PN leader Bernard Grech said the party was waiting on its auditor to finalise the reports.
“You must appreciate that the PN is a complex entity and, therefore, there is a lot that needs to be done with regard to accounts,” Grech said.
The PN’s accounts saga was first flagged by Times of Malta in October 2023, when the party initially blamed the delays on a lack of resources.
The requirement to publish political party accounts and donation reports was introduced in 2016 through the Financing of Political Parties Act.
Since then, political parties have been required to publish the names of individuals and companies donating more than €7,000.
Political parties cannot receive more than €20,000 in donations from individuals or individual companies.
NET no longer making a loss
The spokesperson said financial information also shows that the PN’s media arm, NET, is no longer making a loss.
“All indicators from the first nine months of our financial year indicate that, this financial year, NET Media will not be making a loss,” the spokesperson said.
He said the financial results are the outcome of work carried out across numerous administrations.
“All of this has been done while still investing in our product and increasing audiences. Naturally, this does not mean that all the financial issues have disappeared – there are still old losses which need to be dealt with. But for the first time, the problem is not getting larger and we will now start focusing on how to deal with the historic debts,” the spokesperson said.