Watch: From Tesserati To Shareholders? Clyde Puli’s Proposal To Improve PN Finances
Former PN secretary general Clyde Puli has proposed offering members (tesserati) the option of becoming shareholders of a new company to manage the party’s assets.
In an interview with Lovin Malta’s Tim Diacono, Puli said that the party should be completely siphoned off from its assets, with a new company set up to manage the assets – including the PN każini and a significant chunk of Dar Ċentrali.
The new company would be run as a professional business, with its own management structure, while tesserati would be given the opportunity to purchase shares in it.
Puli’s logic is that tesserati would be the most likely to invest in this new venture as they would want to help the party out.
He hopes the new company will eventually generate enough revenue to clear the PN’s substantial debt, with any surplus profit distributed to shareholders.
“This new company will be able to commercialise more aggressively than the secretary general, who must also focus on the PN’s political operations,” Puli said.
Besides income from każini, Puli said the new company could also decide to commercialise up to two thirds of Dar Ċentrali.
“Dar Ċentrali is massive and it was originally built with that goal [of commercialisation] in mind,” he said. “The building is actually split into three sections – the main entrance, the media house entrance and one in the middle – and I’m convinced that party operations don’t require more than a third of the space.”
“The new company will be able to decide what to do with the rest of it, but what’s important is that its sole goal will be the generation of profit. But we will leave it up the financial experts to decide.”
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