Polish PM says gov't wants airline LOT, energy group PGE, postal service privatized within 2 years

Polish Prime Minister Kazimierz Marcinkiewicz said Wednesday that the government would like to see major state-controlled players, such as national carrier LOT, energy group PGE and the national postal service, privatized on the Warsaw Stock Exchange (WSE) within the next two years.

“Over the next two years we want to see the giants of state-owned companies like [Polish airlines] LOT, [state-controlled insurer] PZU and [Polish postal service] Polska Poczta and [Polish energy group] PGE on the Warsaw Stock Exchange,” Marcinkiewicz said during a press conference to mark the 15th anniversary of the WSE, broadcast on TVN 24 television news channel.

Marcinkiewicz said that the addition of such companies would greatly strengthen the WSE.

“The addition of these companies will be yet another strengthening of the Warsaw Stock Exchange,” he said.

Marcinkiewicz’s comments were warmly received by WSE President Wieslaw Rozlucki.

During the conference Rozlucki thanked Marcinkiewicz, saying that WSE had grown by more than 30% since Marcinkiewicz’s arrival on the political scene. Rozlucki called the WSE the most honest political poll, saying that investors “do not cheat themselves” and that they vote with their money.

He also said that at least some of the WSE’s recent success has come from Marcinkiewicz’s efforts.

“One percentage point on our index is worth about PLN 3 bln,” Rozlucki said. “I won’t say that this is all the result of the prime minister’s work, but Polish businesses have had good results, and I think that a couple of percentage points within these billions are a product of his work, and for this the WSE thanks you.”