Warsaw (Puls Biznesu) – Poczta Polska (PP), Polish postal monopoly, needs a change. According to a document, which “Puls Biznesu” received, PP should be transformed into a stock company.
The report, prepared by PP employers, PricewaterhouseCoopers consulting company and Wierzbowski i Wspolnicy lawyers office, in order not to become a marginal company, PP must be listed on the stock exchange, and the Treasury should have a minority stake only. This is not possible, however. ‘International experience shows that there exists no fully privatised postal company. The Dutch and German posts are the closest to the ideal. Therefore, we recommend PP to be listed, and the Treasury to have a majority stake’, the analysis reads.
In 2009, Polish postal market should be totally liberalised. At the end of this year, however, PP’s monopoly will be limited. Since 2006, PP will be protected in the services of packages up to 50 g of weight only. PP needs cash for investments. Financial estimates forecast that in the years 2004-2007, debt financing will grow from 1.5 percent today to 35.9 percent. Till the end of 2006, investments should amount to PLN 3.1-3.8 billion (EUR 762.6-934.8 m).
Quick changes are not that easy. Many laws would have to be amended, including commercialisation and privatisation laws, public service companies, and the postal code. Postal specialists say, it will take three to five years. ‘Until PP has some monopoly, it may be a company with a majority state stake. After market liberalisation, further privatisation should take place’, Andrzej Piotrowski, an expert from Centrum im. A. Smitha think-tank said.
(PLN 1 = EUR 0.246)
Poland/Enterprises/Post