Finance Ministry selects consortium to devise sales plan for ZUS liabilities

The consortium of investment bank BNP Paribas, law firm Lovells and Arthur Andersen consultancy, has been selected by the Finance Ministry to perform a feasibility study for the sale of Social Insurance Company (ZUS) liabilities. The Ministry expects to get zl.2 billion from such an operation this year, but it is still uncertain how it will be carried out. The consortium has three months to come up with a plan and help the government draft a bill facilitating the procedure. According to ZUS, it would be best to follow the Italian model of issuing bonds secured with ZUS liabilities. ZUS liabilities currently total some zl.20 billion. (Prawo i Gospodarka, p.12) T.J.