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2008 June 2   11:50

Poland working to meet EU demands to privatize shipyards within month

Poland's economy minister says the government is working to meet EU demands that it privatize its major shipyards by the end of June.

The Polish PAP news agency quotes Waldemar Pawlak as saying the government is taking steps to meet the deadline and possibly fast-track the privatization of the Szczecin shipyard.

It reports that Pawlak said in Szczecin Saturday that the city's yard could be privatized by the end of June.

The European Commission warned Poland this week against further subsidies for shipyards in Szczecin, Gdynia and Gdansk. Poland has until June 26 to produce what Brussels considers a credible restructuring plan for the shipyards.

Restructuring would entail privatizing the yards and selling off nonessential assets.

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