Employees and farmers likely to receive 30% stake in KSC for free

The Treasury Ministry, which controls the National Sugar Company (KSC), is preparing a decree to allow for the concern to be privatized. The decree is likely to be passed in September. However, the key question is whether the government will be able to pass the regulation bearing in mind the political turmoil. According to Puls Biznesu, the KSC can be privatized only in one way, and that is to give a free of charge 15% stake to employees and another 15% to farmers who supply the concern. According to Stanisław Barnaś, president of the National Sugar Beetroot Farmers Association (KZPBC) 30,000 out of the 40,000 farmers have declared that they want to participate in the privatization. Each group will also be able to buy more shares, and bearing in mind that a shareholder has to have at least a 21% stake may act as motivation. Barnaś said that farmers could acquire additional shares without necessarily the need to pay up front for them, but they could be paid for in kind with supplies. (Puls Biznesu, p. 8) A.F.