PKP Cargo takes a step forward towards privatization

Maciej Leśny, Deputy Infrastructure Minister in charge of reforming state railways, PKP, announced accelerating the launch of privatizing the largest railway company, PKP Cargo. "We plan to publish an invitation for the tender for consulting companies willing to prepare privatization procedures in about a week," said Leśny. According to the law concerning this issue, the advisor will be chosen by the parent company, while its expenses will be covered by a World Bank loan. Economy Minister Jerzy Hausner expects that PKP's restructuring program will be completed by the end of October at the latest. A decision on this issue was somewhat accelerated by the announcement of the European Parliament, which demands full liberalization of the Polish market by 2006. According to experts, the privatization of Cargo is unlikely to take place earlier than before the end of 2005. (Puls Biznesu, pp. 1, 6) M.M.