Bill to save shipyards includes zł.300 mln write-off

The draft bill has already been analyzed by the Economy Ministry, Treasury Ministry, Industrial Development Agency (ARP) as well as management boards and trade union members of the shipyards. It will now be sent further on to be examined by the Sejm Economy Commission. The draft bill talks of writing off, together with interest, zł.300 million in public and legal liabilities, out of which zł.220 million are liabilities payable to the Social Insurance Office (ZUS). The payment of another zł.110 million in late liabilities related to pension fund premiums is to be postponed. Moreover, the shipyards or the ARP are to issue bonds in 2007 or take loans to repay the liabilities which have to be paid to banks and suppliers. The repayment of these bonds or bank loans will be guaranteed by the state up to the sum of zł.350 million. Around zł.250 million is to be earmarked for the Gdynia Shipyard, zł.50 million for the Gdańsk shipyard, and the remaining zł.50 million for smaller companies from the sector. The implementation of this plan should relieve the threat of bankruptcy from the sector and finally open doors to a potential investor. (Puls Biznesu, pp. 1, 8) A.K.