Poland's State Treasury wants to reduce the number of companies it controls by about 300. The cuts will also affect the number of supervisory and management board members appointed by the Treasury Ministry, currently about 5,500 people, of which 1,200 would be laid off.

The Treasury's 19 key companies now have shares in 709 other enterprises, including 587 majority stakes in firms. The Treasury plans to sell, consolidate or liquidate a large number of its companies.

The first steps have already been undertaken. PGE has sold a chain of medical facilities Megamed, and PGNiG is in the process of selling its Geowita tourist resorts.

Poland A.M.