Bank Handlowy plans to take over Treasury debt to PKS

Bank Handlowy has offered to take over the debt owed by the State Treasury to long-distance bus operator PKS. The zl.330 million debt has been incurred as a result of delays in refunding discounted tickets. Under the Bank Handlowy plan, it would buy the debt at a discount from PKS, and then redeem it from the voivodeships, acting on behalf of the Treasury. The purchase of the debt would improve the financial situation of the many transport companies belonging to PKS, which according to Puls Biznesu are short of money for fuel and investment. Krzysztof Gutowski, president of the Polish Chamber of Road Transportation and Forwarding Services (PITSiS), which is conducting talks with Bank Handlowy on behalf of PKS, said, "We are negotiating with a bank. The agreement will be signed next week." However, Bank Handlowy faces competition from Raiffeisen Bank Polska, which is also interested in buying the debt. According to Marian Nowak, financial director of PKS Tarnow, "The Raiffeisen offer is more attractive than Bank Handlowy's in view of the speed and amount of payment." (Puls Biznesu, p. 8) P.W.