As he stressed during the panel „Private or state-owned? Pros and cons of State’s participation as an owner in economy” while a deficit of the State budget is edging dangerously towards the alarming threshold of 55 percent, a thesis may be thrown in that in the next two years one should expect a halt in State-financed investments.- For that reason, revenues from dividend should not exceed PLN 3 m next year – said Leszkiewicz. – We are not going to drain companies which desperately need resources for their own development.
At the beginning of 2009, the State Treasury declared equally lax dividend politics. The budget was to have gained from profits of state-owned companies earned last year only PLN 3 b. However, after the budget correction, it turned out that the revenues from dividend are to increase by PLN 5.3 b. Thus, a state shareholder had to win at general meetings increased payments from profit of, inter alia, PKO BP, KGHM, Giełda Papierów Wartościowych [Warsaw stock Exchange], Tauron, Polska Grupa Energetyczna, Enea and mining companies.
As the Deputy have highlighted, private entities hold more resources at their disposal. – However, if Tauron is to place PLN 20 b for investments in the following years, it will not obtain those resources either from the state, nor will they be generated by the company, and it will not get any loan for that purpose, either. So money is needed from the outside, e. g. from the stock exchange – Leszkiewicz said.
As Andrzej Klesyk, the President of PZU, has stressed the key issue is lack of stability in managing companies with the participation of the State Treasury, the average time of managing PZU being of 13 months, of LOT – seven, while of, e. g. much successful CEZ – a couple of years .
