Privatization plans for Polish Post
The government has announced its privatization plans for Poland’s largest employer, Polish Post, but the state will retain control
Privatization plans for Polish Post (Poczta Polska) were announced last week by Maciej Jankowski, Deputy Minister and Undersecretary of State in the Ministry of Infrastructure responsible for Polish Post’s activities. Deputy Minister Jankowski revealed that an act on the commercialization of Polish Post has already been prepared, but that governmental talks on the act have been postponed from January to March.
“Polish Post will be a modern company by 2013,” Jankowski pledged on private television station TVN24.
The act is expected to be passed and implemented sometime in the middle of this year. Thanks to the legislation, Polish Post will change its status from a state-owned enterprise to a company wholly owned by the Treasury, which is the first step towards its privatization. Sometime in the future some shares in the firm will be sold on the bourse, “but this will not occur earlier than in 2010,” Jankowski said. According to the strategy, the state will maintain a controlling stake in the company.
On January 21, Jankowski met with the Common Labor Union Representation (Wspolna Reprezentacja Zwiazkowa) of the labor unions within Polish Post to discuss the future and social situation of the firm.
Jankowski said that he would not make any major decisions on restructurization until he had held further talks with the firm’s labor unions and management. Polish Post is Poland’s largest employer, with nearly 100,000 employees.
At the European Commission’s insistence, at the end of 2007 the government accepted separate legislation specifying that Polish Post cannot be bailed out by the state in the event of bankruptcy. The matter will now go to the Sejm.
The government has announced its privatization plans for Poland’s largest employer, Polish Post, but the state will retain control
Privatization plans for Polish Post (Poczta Polska) were announced last week by Maciej Jankowski, Deputy Minister and Undersecretary of State in the Ministry of Infrastructure responsible for Polish Post’s activities. Deputy Minister Jankowski revealed that an act on the commercialization of Polish Post has already been prepared, but that governmental talks on the act have been postponed from January to March.
“Polish Post will be a modern company by 2013,” Jankowski pledged on private television station TVN24.
The act is expected to be passed and implemented sometime in the middle of this year. Thanks to the legislation, Polish Post will change its status from a state-owned enterprise to a company wholly owned by the Treasury, which is the first step towards its privatization. Sometime in the future some shares in the firm will be sold on the bourse, “but this will not occur earlier than in 2010,” Jankowski said. According to the strategy, the state will maintain a controlling stake in the company.
On January 21, Jankowski met with the Common Labor Union Representation (Wspolna Reprezentacja Zwiazkowa) of the labor unions within Polish Post to discuss the future and social situation of the firm.
Jankowski said that he would not make any major decisions on restructurization until he had held further talks with the firm’s labor unions and management. Polish Post is Poland’s largest employer, with nearly 100,000 employees.
At the European Commission’s insistence, at the end of 2007 the government accepted separate legislation specifying that Polish Post cannot be bailed out by the state in the event of bankruptcy. The matter will now go to the Sejm.
