Privatization plan for the years 2008-2011.

The Privatisation Plan aims to unblock and expedite the privatisation process in Poland.

Accouncing the Plan, Prime Minister Donald Tusk said:

“Within the first six months we shall accept and announce a four-year privatisation programme and we shall precisely specify the list of companies which shall not undergo privatization and shall be transferred to local government as well as the list of those companies which shall be treated as strategic by the state, which means that they shall not undergo privatization”. In order to facilitate the privatisation process during 2008-2011, some changes have been necessary to legislation prepared by the Ministry of Treasury concerning commercialization and privatisation.

These changes:

1) increase the openness and transparency of the privatisation process,
2) allow the free transfer of stocks and shares owned by the Treasury to local government authorities,
3) adjust the remuneration of Treasury company board members to reflect market  norms,
4) authorise the sale of stocks/shares of companies by public auction,
5) simplify privatisation procedures,
6) lower privatisation costs,
7) shorten the length of privatisation processes.

The privatisation plan covers companies from key finance, power, chemical and petroleum sectors where privatisation has already started or will commence, as well as the following industries: machine, metal, electronic, electro-technical, spirits, food, wood and paper, furniture, clothing and clothing raw materials, transport and freight, trading companies and service units as well as minority shareholdings (the residues) or companies from the NFI Program.As of 31.03.2008, the Minister of Treasury exercises rights to stocks and shares in 1237 companies. Among these, 350 are being liquidated, declared bankrupt or have ceased trading. Of the remaining 887 active companies, 363 (41%) are one-person companies of the Treasury. Plans compiled by the Ministry of Treasury for the years 2008-2011 list 740 entities (including PZU S.A. after the dispute with EUREKO is resolved) that are supervised by the Ministry. The lists also includes two companies belonging to the Ministry of Economy, 16 entities controlled by the Ministry of National Defence and three submitted by the Ministry of Infrastructure. Twenty five other entities have not been submitted for privatization and neither have 19 public media companies. A separate list of 23 entities may have the privatisation process postponed and four companies will be liquidated after completing the tasks for which they were established. The remaining companies will undergo mergers or consolidations.

 Source : Minister of Treasury