State Treasury: Privatization revenues lower than expected

A similar scenario occurred last year when the initial ambitious plans envisaged zł. 9 billion in privatization revenues were later cut to zł. 4.5 billion. Ultimately, the Treasury gathered not much over zł. 4 billion from this source. "This is not the final data for December 31, 2003, however it is true we have not managed to reach zł. 4.5 billion," said State Treasury spokesperson, Janusz Kwiatkowski. The largest deal concluded by the State Treasury was the sale of its stake in telecoms giant, TPSA, which brought zł. 1.6 billion in revenues. It also sold its shares in the Silesian Sugar Company, power plants, and Polmos spirit producers. The State Treasury has also failed to complete its plan to publicly list companies such as Ciech, Ruch, PZU, PKO BP, or BGŻ in late 2003, or early this year. (Gazeta Wyborcza, p. 19) A.K.