Treasury to gain zl. 7 billion a year from privatization

Between 2002-2005 the Treasury stands to gain zl. 6 billion - zl. 7 billion a year from privatization, the Treasury Ministry declared in its recently published privatization program. The draft document, a detailed version of "Directions of Privatization in Poland until 2005" approved by the Cabinet in June, which has been sent to other departments for examination, also provides for more than ten public offers to take place over the next three years. In fact, as many as 14 companies may be floated before the end of 2005. Among those to be listed are Ciech, WSiP (see p. 1), Ruch, PZU, BGZ, PKO BP, Poludniowy Koncern Energetyczny, LOT Polish Airlines, Polmos Bialystok, and Polish Oil and Gas (PGNiG). The Ministry is also looking forward to the listing of as-yet non-existent organizations such as the pharmaceuticals holding of Polfa Warszawa, Pabianice and Tarchomin, an energy group and a national telecom group to be comprised of small operators independent of TPSA. (Rzeczpospolita, p. B2) J.K.