Government incurs daily fine for unfinished parliament

With the construction of the parliament building and open theatre at City Gate missing its December deadline, the Government is paying a daily fine of almost €10,000... to itself. The news emerged during the annual results presentation of Malita Investments, which is 80 per cent owned by the Government. Minority shareholders, who had bought some €15 million in shares, will be receiving a net dividend of 1c6 per share in April after Malita registered a profit of €1.4 million in its first full year of operation. The company was created in 2011 to finance public projects. The Government gave the company legal title over the parliament building and open theatre and will be leasing back the properties for its own use. Lease payments owed to the Government by Malta International Airport and the Valletta Cruise Port terminal were also diverted to Malita. Kenneth Farrugia, Malita chairman, said the company had to start receiving rents from the Government for the parliament and open air theatre in January. However, given the missed deadline, Malita was receiving the penalty in lieu of the rent. "The Government has accepted and will be paying a penalty of €10,000 per day for the parliament...