Government plans to maintain a majority stake in PGNiG

According to company president Marek Kossowski, the amendments the government made to the program concerning the gas sector are necessary. In the first half of 2005 PGNiG will be able to increase its share capital and the issue might even be worth zł.1.5 billion. Treasury Minister Jacek Socha stated yesterday that he will make a decision concerning the sale of state owned shares in PGNiG during the next six months, but he added that the government will probably want to keep 51% of the stock. PGNiG is planning to spend the money from the issue on financial restructuring, increasing gas mining and on modernizing its export system. Meanwhile, the Office for Competition and Consumer Protection (UOKiK) yesterday ruled that PGNiG has to pay zł.41 million in compensation to the Wysokie Mazowieckie commune for making it difficult for the local authority to receive a discount from Białystok based Zakład Gazowniczy owned by PGNiG. (Parkiet, p. 3) A.F.