Government loans to help Polish fleet meet EU standards

The Polish fishing fleet does not yet meet European Union (EU) standards and in 18 months will not be allowed to fish in the Sea of Okhotsk. "Fishing companies claim other places are not profitable," said deputy Agriculture Minister Jadwiga Berak. Planned reforms aim to reduce the fleet by 126 large boats (50 plus people), 10 small boats and eight processing trawlers between 2003 and 2006. One hundred and eighty-three large boats are to be modernized. If restoration is too expensive, then some new boats will be bought instead. Two hundred small boats will also be modernized and fifty new ones bought. Special government loans will be available to help the fishing industry restructure so as to meet EU standards. The total cost for the restructuring will be zl. 320.5 million. (Prawo i Gospodarka, page 4) M.M. Over supply causes tour companies to begin price war on vacation packages The price of foreign holidays has fallen dramatically over the past few weeks. This is because there are more travel companies around and too many vacation packages available. Also the long weekend in May encouraged many to take their foreign holidays early this year. Holidays to Turkey are the cheapest, because a few hundred zlotys is sufficient for a week. "We don't know if these holiday bargains will still be available tomorrow," said a Zeus Travel Agency representative. Trips to Cyprus, Majorca and Tunisia are also cheaper than usual. "We have to be cheaper in order to survive," said Cyprio Sun Holidays' president Katerina Polykarpou. Travel agencies which specialize in more expensive holidays are also being forced to cut their prices. Neckermann has reduced the cost of its foreign holidays by 30% to 40%. (Rzeczpospolita, page B1) M.M.