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Karl Stagno Navarra Releases Alleged Breakdown Of PN’s Debt Situation

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ONE TV presenter Karl Stagno Navarra last night released an alleged breakdown of the Nationalist Party’s debt, with figures amounting to €35 million.

“I don’t have 100% confirmation but the indications are good,” Stagno Navarra said at the end of his show Pjazza, right before releasing the numbers.

His list includes €13 million in debt to HSBC, BOV and APS, €10 million in unpaid taxes and stamp duty for its workers, €2 million in unpaid VAT, €2 million in unpaid water and electricity bills, €4 million owed to creditors who had purchased the PN’s ċedoli bonds, €1 million debt with the contractors who built Dar Ċentrali, €1 million debt with TV suppliers and €2 million debt for past election campaigns.

Asked to comment on these figures, a PN spokesperson said information on party finances is sensitive and made reference to its statement yesterday, which dismissed a MaltaToday report that the party had accumulated €34 million in debt.

In its statement, the PN confirmed its debts runs into millions of euro but said its assets are more than sufficient to cover all outstanding liabilities.

“The figure being quoted [by MaltaToday] as the total debt due is completely incorrect,” the PN said. “Whilst the amount due runs into millions, this amount is far less than the amount being quoted.”

Last night, PN leader Adrian Delia refused to disclose the exact numbers, saying this information was sensitive and releasing it would be unjust.

He called for some form of state funding for political parties, saying parties shouldn’t be financially dependent on certain lobbies, which can then “dictate their agenda”.

“It’s a shame because there shouldn’t be a political misbalance. Otherwise, the government could usurp its powers by using taxpayers money for the sake of a political party.”

READ NEXT: Former PN Treasurer Disputes Report PN Has €34 Million Debt: 'It's 100% A Lie'

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