KGHM likely to be put under Ministry of Energy

Following the liquidation of the Ministry of State Treasury, supervision of Polish copper mining giant KGHM Polska Miedź is likely to be transferred to the Ministry of Energy, while insurance company PZU will probably go to the Ministry of Development, the Head of the Standing Committee of the Council of Ministers Henryk Kowalczyk stated. “The final decisions have not yet been made. We discussed this at a meeting of the Economic Committee of the Council of Ministers, but not all potentially interested ministers are members. In the case of certain companies, the assignment of supervision is obvious. KGHM could go to the Ministry of Energy, which also oversees mining. PZU is a financial institution, so it should be under the Ministry of Development,” Kowalczyk said in an interview with Puls Biznesu. However, Kowalczyk indicated that the transfer of Grupa Azoty, Poland’s largest chemical concern, and of the Warsaw Stock Exchange (WSE) remains problematic. But he believes the WSE should be put under the Ministry of Finance, while Grupa Azoty should go to the Ministry of Energy or the Ministry of Development.