Friday, January 9, 2015

Coal companies will have different monitoring – Interia

Coal companies will have different monitoring – Interia

Corporate Governance of the coal companies will hold the Minister of the Treasury, and not Minister of Economy has – assumes a draft amendment of the Law on the Functioning of the coal mining complex in the Parliament by members of the Civic Platform.

Prime Minister Ewa Kopacz on Wednesday after the adoption by the government of a remedial program for Coal Company announced that it Thursday or Friday to the Parliament will draft amendments to the coal-mining industry. It concerns the introduction of amendments for the acquisition by the Company of Mines Mines SA Restructuring and carrying out their liquidation and downsizing to lay down rules in the mines closed down by SRK SA After changing the law is to be open-ended; now covers the years 2008-2015.

On Wednesday, the government adopted a recovery program for KW. Government Plenipotentiary. Wojciech Kowalczyk mining restructuring estimated that failure to implement an alternative plan for KW is uncontrolled, chaotic bankruptcy of the company.

The program envisages Sale by KW new, formed by Węglokoks SPV 9 of 14 KW mines. Of the remaining one will buy Węglokoks (Piekary), and the remaining four will be eliminated (Bobrek-Centrum, Sośnica-Makoszowy, Brzeszcze and Peace). The Prime Minister stressed that this plan is linked to the development of the new proposal in Silesia, which will be presented at the beginning of March.

As we read in the explanatory memorandum to the draft amendments to the Act, “closure of mines and payment of benefits due to leave the mining will be financed by grants from the budget. ” According to the recovery plan approx. 2100 people, which the pension will be less than four years, will be able to go on leave mining.

In addition, the Company argued that unconditional one-off payment of severance pay will be funded (in the amount of not more than 1 billion zł) that the Minister of Labour and Social Policy in 2015 forward. From the Guaranteed Employee Benefits Fund . Disposal of these funds will be Minister of Economy. They will have paid benefits by the end of 2018., And after the payout difference between the amount requested and the used will be returned to the state budget.

The Recovery Plan envisages KW that approx. 400 underground miners leave from work to give a one-time severance pay of 2-year salary, and more than 1,000 employees will leave processing, getting clearance of 10-month earnings. While a further 1,600 people – working on the surface – it has to go to the clearance of 3.6 times the monthly salary.

The total projected budget expenditures arising from the restructuring of the mining industry is expected to be in the years 2015 to 2018 zł 3 billion in that between 2015 and 2016 amount to 2.3 billion zł (in 2015. zł 1.4 billion, 0.9 billion in 2016 zł).

The draft proposes a change, resulting in the “governance over the coal companies will hold the minister responsible for the Treasury” due “on the merits of a single exercise supervision over the companies in which the holdings Treasury”.

PAP

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The Government Plenipotentiary for the mining industry restructuring will visit tomorrow Silesia. Wojciech Kowalczyk will meet with local representatives of local government there. It is possible that there will be a meeting with trade unionists from the mining industry.

Despite earlier announcements unionists, who did not want to come to Warsaw, the government side was waiting for them in the Warsaw Centre for Social Partnership “Dialogue”.

The Government Plenipotentiary for the restructuring of the mining, Deputy Treasury Minister Wojciech Kowalczyk assured that he still hopes for talks with miners. He stressed that the alternative to the government’s restructuring plan is bankrupt Coal Company.

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The Ministry of Treasury does not exclude the possibility that energy companies are interested in purchasing the shares of a new mining company. Such a scenario at the conference summarizing 100 days governments announced Prime Minister Ewa Kopacz.

A spokeswoman for the Ministry of Treasury, Agnieszka Jablonska-quark IAR said that such investment must be profitable for energy. Energy producers will be interested in the purchase of shares only such company which will have the opportunity to achieve high revenues. Treasury spokeswoman added that the decisions of the energy companies that are listed on the stock market, must be justified by a business.

It is not known when he would come to buy shares in the new company. The Treasury is working on the consolidation of the energy sector alone. Details of the plan are to be known by the end of January. Both of these processes, restructuring and consolidation of mining energy, can run in parallel. President of KW, Krzysztof Sędzikowski said today that the resulting business plan of a new, profitable coal company assumes find investors. President of KW believes that natural investor for mining is the energy sector. According to Christopher Sędzikowskiego can ensure energy security companies and stable access to raw material. Head KW reserves, however, that such an investment is not yet a foregone conclusion.



OPINIONS

More and more questions about the future of the coal industry. Miners are against the government’s plan, and experts are wondering whether the Polish power can save the mines. Consolidate Mining and Energy announced this week the Prime Minister Ewa Kopacz.

According to the President of the European Centre for Enterprise Jerzy Kwiecinski, a combination of mining and energy industries makes sense. Proved the situation in the fuel industry, where there are also oil wydobywcy its processors and retailers. For energy companies to have mines provide a stable supply of raw material.

Guest Polish Radio 24 is concerned, however, that the combination of sectors will be a political, not economic. By George Kwiecinski, if the change will be made just to cover up the loss of the mine, then you should think seriously about it.

According to the government, from the staff of liquidated plants around 3000 people will get severance pay, the rest will go to retirement or to work in other mines. The total cost of the Recovery Program for the next two years will be about 2 billion 300 million dollars.

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