Treasury submits privatization plan for energy giant Polish Oil and Mining

The Treasury Ministry has submitted to the Economic Committee of the Council of Ministers (KERM) its privatization plan for Poland's largest energy concern Polish Oil and Gas Mining (PGNiG). The ministry is reportedly targeting investors from the energy sector and is presumably also looking at foreign concerns that have already made investments in natural gas exploration and mining in Poland. According to the government's restructuring program penned in mid-2000, the state-owned company, currently divided into five limited liability companies, is to be transformed into a holding. The ministry's plan calls for PGNiG's debts totalling between zl.5 billion and zl.6 billion to be distributed among the companies. (Gazeta Wyborcza, p.24) M.S.C.