Poland's state-owned companies are not necessarily meant to maximise profit, says PM
State-controlled companies, including those listed on the stock exchange, are not necessarily meant to maximise profit, they are meant to serve citizens, Poland's Prime Minister Donald Tusk told a conference in Warsaw.
"I had a meeting yesterday, not an easy one, with the managers of the biggest energy companies. (...) What is the task of state managers, even if they are heads of listed companies. Their first task, e.g. in the case of an energy company, is to ensure energy security for the Polish state (...) households, entrepreneurs - possibly cheap energy that is universally available," Tusk stressed.
"Not necessarily to maximise the profit of the State Treasury company. If only maximising the profit of a State Treasury company made sense, then actually why would the state be in such a company," he added.
Poland's Prime Minister pointed out that the Polish state is present in various areas of the domestic economy in order to realise its interest, interest of Polish capital, entrepreneurs, companies, or, as in the case of energy, also to realise the interest of all Poles.
"(...) because such an interest is universally available and cheap energy. (...) Capital has nationality, the economy has nationality. The manager of a company co-managed by the state has a nationality. Our interests are white and red," he added.
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