Sasin raises alarm about the “privatization of 10 companies”. MAP replies: We will not lose control, we are correcting the mistakes of our predecessors

Poland will not lose control over any company with State Treasury participation, the Ministry of State Assets assured on Monday. He referred to the entry by Jacek Sasin (PiS), according to which the government is preparing to privatize 10 or more State Treasury companies through the stock exchange.

Last week, in an interview for PAP and PAP Biznes, the Minister of State Assets, Wojciech Balczun, announced that the Ministry of State Assets is finalizing work on the list of at least 10 companies that will be transferred to the Industrial Development Agency. At the same time, the ministry is analyzing potential candidates for public offerings, which could give a new impulse to the Warsaw Stock Exchange, he added.

“The government of (Prime Minister Donald) Tusk and Minister Balczun are preparing privatization through the stock exchange – 10 or more State Treasury companies may be listed on the WSE,” former Minister of State Assets, currently PiS MP Jacek Sasin, wrote on Monday on Platform X.

Tusk's government and Minister Balczun are preparing privatization through the stock exchange – 10 or more State Treasury companies may be listed on the WSE. These are not small companies, they are strategic enterprises that have built our economic strength for decades.

🔹 Poland has a huge portfolio of assets – from LOT,… pic.twitter.com/YZ6wMFg5rY

— Jacek Sasin (@SasinJacek) February 14, 2026

He added that “these are not small companies, they are strategic enterprises that have built our economic strength for decades.” In his opinion, “instead of strengthening and developing state-owned companies, the government prefers to sell them, divide them and put them under the control of external capital.” “Let us not allow Poland to be dismantled step by step under the slogan of 'reviving the stock exchange'. We need a policy of strengthening our own companies, not their privatization!” – wrote Sasin.

MAP: We will not give up control of the assets

In response, the Ministry of State Assets (MAP) assured that “Poland will not lose control over any company with State Treasury participation.” “Strategic Polish companies are developing rapidly, as evidenced by the increase in their capitalization and dividends paid. We are trying to solve companies' problems resulting from wrong decisions made by our predecessors' governments and we are determined to save Grupa Azoty. (poor over-investment) and reform the Polish Post Office (many years of delays),” the ministry emphasized, responding to Sasin's entry also on the X platform.

At the same time, MAP indicated that it was unable to reactivate Lotos, “whose strategic assets were sold to the Hungarian concern MOL and the Saudi Arabian Saudi Aramco.”

We will not recover the solidarity contribution paid by JSW, and the State Treasury will not receive billions for the sale of PGNiG to Orlen, MAP added.

Balczun's plan to revive the WSE. Will state-owned companies make their debut on the stock exchange?

– We are finalizing work on preparing a list of companies that are not of strategic importance for the State Treasury and which we would like to entrust to the Industrial Development Agency. Our goal is for the ARP, having the appropriate competences and experience, to ensure a good future for these companies – said Balczun in a recent interview for PAP. The minister expects the list to include at least 10 companies. When asked whether this group would include potential candidates for entering the Warsaw Stock Exchange, the head of MAP replied: “If we are talking about large, serious IPOs, they are potentially in the portfolio of the Ministry of State Assets.”

– I can't say what companies these are, although it's on the tip of my tongue. However, I can say that the stock exchange would be a very good vehicle for some entities and industries. We have many examples of state-owned companies that developed well after their debut on the Warsaw Stock Exchange, and the State Treasury retained full control over them – he added. He pointed out that the Ministry of State Assets is currently analyzing the possibility of debuting on the WSE of companies under the supervision of MAP. (PAP)

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