Konrad Mizzi

The Honourable
Konrad Mizzi
MP
Minister without portfolio
Assumed office
28 April 2016
Prime Minister Joseph Muscat
Preceded by Position Established
Personal details
Born (1977-11-04) 4 November 1977
Paola, Malta
Political party Labour Party
Alma mater University of Malta
University of Nottingham
Religion Roman Catholicism

Konrad Mizzi (born 4 November 1977) is a Maltese politician currently serving as a Member of Parliament and as a Minister without portfolio. He was previously Minister for Energy and Health.

Minister for Energy and Health

He was appointed by the President on advice of the Prime Minister Joseph Muscat as Minister for Energy and the Conservation of Water on the 13th March 2016 following the 2013 general elections in Malta. On 1 April 2014, Konrad Mizzi was given the responsibility of the Health portfolio. On 28th April 2016, Prime Minister Joseph Muscat removed the Health and Energy portfolio from the hands of Minister Konrad Mizzi, but left him as a member of the Maltese cabinet as a Minister.

As Minister responsible for Malta's Energy policy, Konrad Mizzi, embarked on implementing the necessary changes to make Malta's energy sector sustainable and transform Malta's energy provider Enemalta strengthening its finances. Shanghai Electric acquired a majority stake in Enemalta the local energy provider , which under previous administration was on the brink of bankruptcy under €840 million debt and consecutive downgrades by Standard & Poor's.[1][2][3]

The Power & Gas project being developed in Malta.

The minority acquisition of Enemalta was valued at €250million and the restructuring programme envisaged new investment in the local distribution system as well as numerous investments overseas thereby strengthening the company's portfolio. The Government of Malta has retained the majority shareholding in the newly formed company.[4]

Shanghai Electric will also be investing in the conversion to gas of an existing power plant which is currently powered by heavy fuel oil, valued at around €70million.[5] In 2016, and following the investment by Shanghai Electric and the restructuring process that followed, Standard and Poor's upgraded Enemalta's rating to BB- with a stable outlook.[6]

The development of a new Power and Gas private investment project in Malta falls under the responsibility of the Ministry for Energy.

Mizzi is also responsible for Projects Malta, the company tasked with overseeing PPPs initiatives across a whole spectrum of economic sectors including tourism and other infrastructure projects. [7]

Upon assuming the health portfolio in 2014, Konrad Mizzi embarked on transforming the health sector by attracting a private investment worth €200million, as a PPP initiative. As part of this investment, a new world class hospital will be developed on the island of Gozo while redeveloping the existing facilities.

Artistic Impression of St. Luke's Rehabilitation Hospital after renovation by Vitals Global Healthcare

Other existing facilities are also set to be redeveloped in Malta, at the former St. Luke's Hospital which will be converted into a new rehabilitation hospital along with the necessary facilities which are currently non-existent.[8] Barts and The London School of Medicine and Dentistry will be a major component in this project by being responsible for the management of a new medical school as part of this project.[9] Vitals Global Healthcare [10] were selected as preferred bidders for €200 million investment into St Luke's Hospital, Karin Grech Rehabilitation Hospital and Gozo General Hospital and they have partnered with Partners Healthcare.[11] to provide the highest quality health service under this project.

Politics

Mizzi was elected from the Fourth District (Paola, Gudja, Ghaxaq, Tarxien, Santa Lucija and Parts of Marsa and Fgura) in March 2013.

Professional career before entering politics

Mizzi has led major projects and initiatives in the Energy Sector, both in Malta and in the United Kingdom. He has also led other projects in various other sectors which include the Government, Infrastructure, Telecommunications and the promotion of enterprise.

Mizzi was a Partner and Head of the Energy and Infrastructure Practice for the EMEA Region (Europe, Middle East and Africa) with Pcubed, a global leader in programme management. He has previously held senior roles with Deloitte and Touche and British Telecom in the United Kingdom. In the UK, Mizzi led various change projects which included the forging of an Alliance between seven energy companies which improved services and realised large savings. He has also worked with regional government leaders to transform deprived areas.

Controversies

Panama Papers

Mizzi was one of the individuals named in the leak of the Panama Papers in April 2016. He was the only incumbent EU Minister named in the leaks.[12] Shortly prior to the leak of the Panama Papers, it was revealed that Mizzi had opened a Panamanian company called Hearnville Incorporated to be settled into a trust which was established in New Zealand through a Maltese financial services company called Nexia BT.[13] This fund was purchased by Nexia BT through Panamanian law firm Mossack Fonseca.[14] The beneficiaries of the trust fund were listed as Mizzi's wife and two children. It was also revealed that Keith Schembri, the Maltese Prime Minister's Chief of Staff had established a similar financial setup.[15]

These revelations led to allegations of corruption and financial misappropriation, particularly on behalf of the Maltese Opposition party,[16] which led calls for Mizzi's resignation as a Cabinet Minister,[17] organised a number of public protests on the issue[18] and presented a motion of no-confidence in the Labour Party government. This motion was defeated with a 38-31 vote in the government's favour.[19] Mizzi's decisions were also criticised by a number of high-profile Labour Party figures who called for his resignation, including MEP and former Prime Minister Alfred Sant,[20] Education Minister Evarist Bartolo.,[21] and Labour Party whip Godfrey Farrugia.[22]

Mizzi defended his decisions by stating that both the trust and company were publicly declared in his declaration of assets at the first available opportunity[19] and that the sole aim of the fund was to protect his family's assets, which include property in Malta and in London.[13] Mizzi claimed that his Panamanian company was a shelf company that held no assets and was valued at just €92.[23] Mizzi also voluntarily requested the Commissioner for Inland Revenue and an International Tax Audit company, to carry out a Tax Audit on his assets, which has never been done in Maltese political history, and declared that once this audit is complete, he will close down Hearnville Incorporated and retain his New Zealand trust.[24] In defending the opening of his Panamanian company, Mizzi stated that although he exercised poor judgement, the financial structure he set up was not illegal and he did not attempt to hide it from the public or his peers.[17]

Studies

Mizzi holds an MA with Distinction and a PhD from the University of Nottingham. He holds a BSc from the University of Malta and a Diploma in Finance. He was awarded a Chevening Scholarship from the Foreign and Commonwealth Office in the United Kingdom.

References

  1. ↑ S&P downgrades Enemalta's rating
  2. ↑ S&P retains negative outlook on Enemalta
  3. ↑ Government to absorb some of Enemalta's costs - will not raise tariffs
  4. ↑ Shanghai Electric transfers €250m for Enemalta stake
  5. ↑ Agreement on strategic investment in Enemalta by Shanghai Electric Power signed
  6. ↑ Enemalta’s credit rating upgraded, outlook stable
  7. ↑ Government aiming to take public-private partnerships to next level through Projects Malta
  8. ↑ St Luke’s hospital to be transformed into ‘state of the art’ rehab centre
  9. ↑ Government's agreement with Barts a 'memorandum of understanding'
  10. ↑ Vitals Global Healthcare the preferred bidders for €200 million investment into St Luke's Hospital, Karin Grech Rehabilitation Hospital and Gozo General Hospital
  11. ↑ Partners HealthCare International and Vitals Global Healthcare Sign Agreement to Improve Health Care Services in Malta
  12. ↑ Aries, Quentin; Paravicini, Giulia (4 April 2016). "5 ways the Panama Papers swept up EU figures". Politico. Retrieved 23 April 2016.
  13. 1 2 Xuereb, Matthew (28 February 2016). "Konrad Mizzi has no regrets over acquisition of company in Panama; PM’s chief also has Panama company, say reports". Times of Malta. Retrieved 23 April 2016.
  14. ↑ "Panama Papers - The Power Players". The Panama Papers. The International Consortium of Investigative Journalists. Retrieved 23 April 2016.
  15. ↑ "Keith Schembri denies 'all allegations' made against him; blogger says he is 'lying brazenly'". The Malta Independent. 13 March 2016. Retrieved 23 April 2016.
  16. ↑ Grech, Helena (3 March 2016). "PN labels Konrad Mizzi, Keith Schembri scandal as ‘biggest in Maltese political history’". The Malta Independent. Retrieved 23 April 2016.
  17. 1 2 "Opposition describes situation as 'surreal' as Konrad Mizzi makes statement in parliament, about cemeteries". Times of Malta. 7 March 2016. Retrieved 23 April 2016.
  18. ↑ "PN to hold national protest against corruption; Mizzi decision to close Panama company 'admission of guilt". Times of Malta. 29 February 2016. Retrieved 23 April 2016.
  19. 1 2 "Panama Papers: Government wins confidence vote but Muscat says doing nothing is not an option". Times of Malta. 18 April 2016. Retrieved 23 April 2016.
  20. ↑ "Former Labour prime minister says Mizzi should go". Maltatoday. 11 April 2016. Retrieved 23 April 2016.
  21. ↑ Martin, Ivan (12 April 2016). "Panama leaks: 'I would have resigned' - Evarist Bartolo". Times of Malta. Retrieved 23 April 2016.
  22. ↑ Sansone, Kurt; Martin, Ivan (13 April 2016). "Godfrey Farrugia third PL exponent to suggest Konrad Mizzi should resign". Times of Malta. Retrieved 23 April 2016.
  23. ↑ "Minister Konrad Mizzi's Panama Company Worth €92". TVM. 2 March 2016. Retrieved 23 April 2016.
  24. ↑ "Konrad Mizzi to close down Panama company after tax audit, retain New Zealand trust". Times of Malta. 29 February 2016. Retrieved 23 April 2016.

External links

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