Continuation of long-delayed privatization likely in 2003 says Minister

Treasury Minister Wieslaw Kaczmarek predicts that revenues from privatization should amount to zl. 9.1 billion next year. This will be achieved through the floatation of shares in state-owned companies on the Warsaw Stock Exchange (WSE). The 2003 privatization plan envisages the sale of more shares in banking giant PKO BP, power group Polski Koncern Energetyczny (PKE) and dominant insurer PZU. Long-delayed privatization of leading press distribution Ruch, Polmos Bialystok, educational books publisher WSiP and possibly national air carrier PLL LOT, will be resumed. Moreover, Kaczmarek said that the Treasury might reduce its holding in TPSA, either floating part of its near 20% stake on the WSE, or transferring the funds to ailing state firms to boost their capital. The WSE has not seen a major share offering since the market debut of oil group PKN Orlen in 1999. (Reuters, Parkiet, p. 1) M.M.