GWU warns against job losses arising from Sea Malta's privatisation

Abstract

The government is in the process of privatizing the national shipping line Sea Malta. The General Workers’ Union expressed its determination not to let the privatization agreement lead to job losses. Sea Malta Company Ltd., Malta’s national shipping line operates transport services to and from Malta within the Mediterranean basin. The company which employs around 120 workers, serves the national economy by providing a flexible sea transport service for local manufacturing and for export. In the Budget speech 2005, the Prime Minister declared that the government was seeking to privatize the company. In spite of considerable opposition, in its role as Sea Malta’s major share holder, the government is resolved that privatisation is the only way forward for Sea Malta. It insists that restructuring would be futile given that since 1997, the company lost an average of MTL 0.5 million annually.