Polish Oil and Gas (PGNiG) in no hurry to privatize

Yesterday the government approved a document entitled " Assumptions for the Privatization of the Polish Gas Industry," announcing that the privatization process of the Polish Oil and Gas (PGNiG) company dealing with distribution gas pipes and warehouses is at least five years away. The Cabinet (RM) decided that shares in companies established as a result of the break-up of PGNiG will be offered to strategic investors, and then the companies will be traded on the the stock exchange. According to Treasury Minister Aldona Kamela-Sowinska, the funds obtained from the sale of distribution companies will belong to PGNiG, but the Cabinet will decide on how they can be used. The Minister also added that the future government may make some changes in the privatization schedule. (Rzeczpospolita, p.B2). M. S.-C.