Deputies put forward new solution to Treasury minority stakes

Deputies led by Wiesław Walendziak, head of the Sejm Treasury Commission, have proposed a new way of dealing with minority stakes in private companies held by the State Treasury. Under the group's bill, shares in 230-260 smaller companies - with at least 250 staff and revenues up to EUR 6 billion - would be transferred to local authorities. They believe that strengthening the regions financially is advisable as much of the inflowing funds from the European Union have to be matched by the recipient. Another virtue behind the transfer lies, in the view of the Deputies, in improved management as, under the bill, local authorities would obtain stakes in companies operating in their regions. The Deputies propose that stakes in 300 mid-size companies should be sold to private investors, while shares in 77 joint-stock companies should be managed by the Industrial Development Agency. The nominal value of the minority stakes held by the State Treasury in 1100 private companies is zł. 4,6 billion. (Puls Biznesu, pp.1, 4) M.K.