PKP CEO: privatization still uncertain

According to a report released by the Polish Press on Tuesday, the CEO of Polish State Railways (PKP), Mirosław Pawłowski, indicated that the company would need to show three consecutive years of profit before being privatized. Also, he indicated that he felt the privatization of Poland’s largest passenger rail service should not take place as a means in and of itself, but instead should occur with the aim of improving the company’s economic situation. “Perhaps all this privatization will not happen. It would be justified if it meant raising capital for further development, for investment. For sure, we will want to keep a controlling stake,” he stated. The board of PKP had previously indicated that, by 2018, it would be a public company. However, it has not posted profits in recent years. “We hope that this year it will (post) a positive (profit),” Pawłowski added.