Heyday of large revenue from privatization for the State Treasury is numbered

The State Treasury has estimated that privatization revenue will be higher than predicted, but as of 2002 privatization revenue will begin to drop. Deputy Treasury Minister Alicja Kornasiewicz says, "Privatization revenue will amount to between zl. 24 and zl. 25 billion this year, higher than the planned zl. 20 billion. In 2002, revenue will drop to between zl. 5 and zl.10 billion and will mostly come from energy-sector privatization."She also said that investors for educational-materials publishing-house WSiP S.A. had been chosen and it will buy a maximum of 80% of WSiP shares by the end of the third quarter of 2000. The sale of a 10%-stake in copper conglomerate KGHM Polska Miedz should be finalized in the fourth quarter of 2000, and some of the revenue will be targeted at pension funds. The state-owned LOT Polish airlines is to sell its shares to a strategic investor through the Warsaw Stock Exchange (WSE) either at the end of this year or the beginning of next. At present 52% of LOT shares are owned by the Treasury and 37.6% are owned by the SAir Group. "We also be selling up to a 10%-stake in the arms industry as they are in very bad shape. Privatization of steel mills should be finished by the beginning of next year,"said Kornasiewicz. (Rzeczpospolita, B2) M.M.