No more politics in Treasury companies. Minister Balczun reveals a plan for profits and privatisation

Minister of State Activities Wojciech Balczun, in a fresh conversation at RMF FM, presented a comprehensive imagination of the management of Polish companies of the Treasury, signalling retreat from political influence on efficiency, profitability and professionalism. As he stressed, the first “accounts” of the erstwhile authority in the MAP area were of a substantive nature and are already behind them. At present, the ministry is focused on building cahoots and generating real financial results. This is the announcement of a fresh era for key Polish companies, including the Polish Post Office and the energy sector, with concrete restructuring plans and possible disinvestments.

Reset in Treasury Companies: From Settlements to Efficiency

Wojciech Balczun, who took the position of Minister of State Assets on 24 July, made it clear that his mission was to "efficient, substantive management of resources" of the state. He stressed that the first phase of the settlement of erstwhile governments in the MAP was of a substantive nature and that the "largest spades" reached at the very beginning. This allows the current squad to focus on the future. The Minister, who himself identifies himself as a manager alternatively than a politician, treats his function as “the head of the state holding of resources”. His approach is based on retail entry into the functioning of individual companies, analysing their results, strategies and compliance with the general government strategy. The aim is to guarantee that State Treasury companies develop, make profits and, consequently, dividends that supply the state budget.

Polish Post Office on the Turn: Restructuring and fresh Perspectives

One of the precedence areas of the MAP is the Polish Post Office, which, as Minister Balczun noted, has struggled over the years with the problem of policy impact. The company is presently undergoing a thorough restructuring process and the plans presented are "very promising". The Minister assured that The mailmen will beand the company will search to take over any of the services, make them and transform them. The ongoing negotiations with the Ministry of Justice on the provision of service services are crucial, which are to importantly grow cooperation and supply the Polish Post with a longer position for development. This strategical decision is not only to stabilise the company's finances, but besides to modernise its offer and position in the service market.

Energy and Coal: Inefficiency and Global Challenges

Energy, and in peculiar the extractive sector, is another key sector under scrutiny by the Ministry of State Acts. Wojciech Balczun stressed that while the "energy mix should contain a coal component", the Polish mining sector is "very inefficient". The Minister noted with concern that Poland has practically the highest coal mining costs in the world. This diagnosis points to the urgent request for reforms and for solutions to improve the country's competitiveness and energy efficiency. The impact of this inefficiency is felt by all citizens, both through energy prices and the burden on the state budget, which puts the sector at the hazard of major structural and technological changes.

Revolution in Asset Management: Dividends and Privatization of insignificant Companies

Minister Balczun made it clear that State Treasury companies should make profits and so pay dividends. ‘If the company pays the dividend, it contributes to the budget and pays the dividend to shareholders,’ he explained, stressing that it is simply a ‘balanced instrument’. Moreover, the MAP chief has a circumstantial plan concerning almost 100 Treasury companiesof which about 20 are strategically important. For non-strategic companies, it provides for the usage of the possible of the Industrial improvement Agency (ARP) as a "resolution search vehicle". ARP, as an entity of commercial law, can search investors, ways to reduce the State Treasury's participation and disinvestment solutions. Balczun stressed that staff and structural changes would be introduced where justified by analysis of results and strategies, alternatively than "cleaning up for cleaning".

What next with the Treasury companies?

Wojciech Balczun announces a fresh era for Polish companies of the Treasury, characterized by professionalism, efficiency and focus on financial results. Changes in the Polish Post, strategical approach to energy and the plan to privatise smaller, non-strategic assets are key elements of this transformation. The aim is not only to increase profits and dividends for the state budget, but besides to modernise management and separate key companies from current policies. Poles may anticipate that in the coming years these decisions will affect the quality of services, stableness of the economy and efficiency of the usage of national assets, leading to a more competitive and innovative state sector.