Nafta Polska plan for chemical sector reform cast in doubt by lack of funds

Nafta Polska has submitted to the State Treasury its plan for the development of the chemical sector. "Consultations between the Ministry and Nafta Polska on the details of the project are now taking place," said Treasury Minister Wieslaw Kaczmarek. It is not yet known when the draft will be discussed by the Cabinet. However, it is possible there will not be adequate cash to implement the plan. Nafta Polska hoped to obtain the necessary funds from restructuring of the chemical sector, mainly from the privatization of Rafineria Gdanska, which is now looking increasingly uncertain. The alternative means of financing the project could be from funds raised by the privatization of PKN Orlen, but this would take a long time. According to Puls Biznesu, the uncertainty means the whole idea of Nafta Polska being responsible for the integration and restructuring of the chemical sector is now in question. (Puls Biznesu, p. 8) P.J.