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The Warsaw Voice » Other » October 22, 2008
Privatization in Poland
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Small Companies Up for Auction
October 22, 2008   
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Treasury Minister Aleksander Grad says:

The situation on global financial markets could delay the implementation of some privatization plans slightly, but it certainly won't stop them in their tracks. Our priority is to provide companies with additional capital so that they can continue to develop and invest. Of course, in most cases the privatized companies have to undergo restructuring before they can find investors. That's why work on privatizing individual companies continues so that they are ready for sale once the market situation improves.

All companies that are still in state hands will undergo privatization in the coming years, except for those that are classified as strategic businesses. The list of strategic businesses will most certainly include companies such as Polish Radio and Polish Television, GazSystem, PSE Operator power grid operator, Operator Logistyczny Paliw Płynnych (OLPP) liquid fuel logistics company, Przedsiębiorstwo Eksploatacji Ruroci±gów Naftowych (PERN) oil pipeline company, Lasy Państwowe state forest authority, and Orlen and Lotos oil companies. The KGHM copper corporation will not be sold either; in this case we have made a political pledge to discontinue privatization. And pledges should be kept.

The Treasury Ministry wants to sell more companies by auction. Today, only shares in companies in which the Treasury holds a stake of no more than 10 percent can be sold in this way. That's why the ministry has proposed amendments to the Commercialization and Privatization Act to allow the procedure to be applied regardless of the size of the Treasury's stake in a given company. The changes will improve and accelerate the privatization process.
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