July 14, 2014 / 7:38 AM / 4 years ago

Poland to scale down 2014 privatisation target -report

WARSAW, July 14 (Reuters) - Poland will significantly scale down its 2014 privatisation income goal of 3.7 billion zlotys ($1.2 billion), Poland’s treasury minister was quoted as saying on Monday.

“One can expect a significant correction,” Wlodzimierz Karpinski told the Polish edition of Bloomberg Businessweek. “Privatisation is not a goal in itself. We are concentrating mainly on building the value of our strategic companies.”

Poland’s treasury cut the number of companies under its supervision to around 240 from almost 8,500 after the fall of communism.

But income from state sales, which helped Poland weather the global financial crisis, has been falling since a 2010 peak of more than 22 billion zlotys.

The aim for this year was to raise 2.5 billion zlotys through flotations on the state-controlled Warsaw bourse and 1.2 billion from smaller sales. As of the end of June, the treasury had booked sales of 770 million zlotys.

$1 = 3.0434 Polish Zlotys Reporting by Adrian Krajewski; editing by Jason Neely

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