Economy Ministry presents plan for relieving the debts of the steel sector

Under a bill prepared by the Economy Ministry for the rescue of the steel industry, over half of the sector' s zl.1.2 billion debts will be written off or deferred. Up to zl.300 million of interest owing will be written off, while repayment of a further zl.400 million will be delayed until the period from 2006 to 2009. However, the steel mills will have to meet exacting conditions to qualify for the debt relief. They will have to pay off all their other debts and present restructuring plans to the Economy Ministry for approval. (Puls Biznesu, p.9) M.T.