In the spotlight: Jacek Socha
A visionary and powerful decision maker for some, a traitor of state and public interests for others-whichever label you choose, it's hard to disagree that Minister Socha stepped up the rate of privatization and did it smoothly. He is the first Treasury chief since 2000 who has managed to execute the privatization plan, which could bring the state as much as zł.10 billion by the end of 2004.
The highlight of the passing year was undoubtedly the IPO of PKO BP. Minister Socha, one of the founders and first officials at the Polish Securities and Stock Exchange Commission (KPWiG), is thought to have a great enthusiasm for free-market mechanisms and the stock exchange, in particular. A careful apprentice of the late Lesław Paga, the first chairman of KPWiG, Socha has been criticized by some for his ideas, such as merging the WSE with American bourses, which are perceived as over-ambitious and unrealistic. His liberal approach to state-owned companies constantly puts him under heavy fire from rightwing conservatives, who are afraid of giving away public assets to foreign hands, or any other hands for that matter.
However, there is one point that economists and businessmen agree on-this is a Minister who understands the market's and state budget's needs. The coming months will show if this understanding translates into positive lasting effects. (B.K.)
The highlight of the passing year was undoubtedly the IPO of PKO BP. Minister Socha, one of the founders and first officials at the Polish Securities and Stock Exchange Commission (KPWiG), is thought to have a great enthusiasm for free-market mechanisms and the stock exchange, in particular. A careful apprentice of the late Lesław Paga, the first chairman of KPWiG, Socha has been criticized by some for his ideas, such as merging the WSE with American bourses, which are perceived as over-ambitious and unrealistic. His liberal approach to state-owned companies constantly puts him under heavy fire from rightwing conservatives, who are afraid of giving away public assets to foreign hands, or any other hands for that matter.
However, there is one point that economists and businessmen agree on-this is a Minister who understands the market's and state budget's needs. The coming months will show if this understanding translates into positive lasting effects. (B.K.)
