Treasury Minister: Privatization of last three state banks not in the works

Treasury Minister Wieslaw Kaczmarek has stated that the government is not planning to go ahead with the privatization of Poland's remaining three government-controlled banks, namely PKO BP, Bank Gospodarki Zywnosciowej (BGZ) and Bank Gospodarki Krajowej (BGK). The public offering of a 30% stake of PKO BP, Poland's largest bank, had been announced by the previous T reasury Minister, Aldona Kamela-Sowinska. The sale was to take place in the middle of 2002. Privatization of PKO BP and BGZ was also included in this year's budget, but the amount that the government expected to obtain from the sales was not mentioned. Kaczmarek did not reveal whether the sales will take place at all and, if so, when the Ministry plans to hold them. (Gazeta Wyborcza, p. 17) M.T.K.