State Treasury hopes privatization will earn zl. 7 billion

The State Treasury Ministry plans selling the shares of 11 public companies by 2005 on the Warsaw Stock Exchange (WSE). This is the course of action proposed by the State Treasury in its privatization program for 2002-2006. The strategy could still be amended as it has to be examined by the government before it becomes official policy. These public offers concern large companies. This year should see the introduction of 11% of TPSA shares, which have an estimated value of zl. 2.2 billion, and 35% of shares in WSiP, the largest publisher of school text books, on the WSE. Next year the shares of six State Treasury companies will be sold, and these will probably include Ciech, Ruch and the Polish Insurance Company (PZU). The total value of the planned issues might exceed zl. 7 billion. (Puls Biznesu, pp. 1, 6) M.T.