What's next for PFN? The state-owned company has made a decision. It's over

What's next for PFN?  The state-owned company has made a decision.  It's over

In 2016, the Polish National Foundation was established for a decade. Huge amounts of money were spent on its activities. Will state-owned companies continue cooperation under the new government? The management of one of them says: “no”.

In the first year, the Polish National Foundation had a budget of as much as PLN 100 million. – We are announcing the establishment of a foundation that will use the strength and energy of state-owned companies to build a Polish brand – announced the (then) Prime Minister Beata Szydło in July 2016, accompanied by the presidents of 17 state-owned companies.

Among them were companies such as: Polski Holding Nieruchomości, Polskie Koleje Państwowe, Polska Wytwórnia Papierów Wartościowych, Totalizator Sportowy, KGHM, PKN Orlen, PGNiG, PZU, PKO BP, GPW, Enea, Energa, PGE, Grupa Azoty, Lotos and Tauron. And also Polska Grupa Zbrojeniowa. The management board of the last of them recently made a decision regarding PFN.

What's next?

The foundation's task was to “promote Poland's image abroad, build a brand and promote the economy,” Gazeta Wyborcza reported. It was registered at the end of December 2016. However, at the end of February 2024, the Ministry of Culture and National Heritage dismissed the PFN council. “The decision was made due to the lack of transparency in activities,” it was reported.

“The Polish National Foundation, among other things, hindered the Supreme Audit Office's access to financial reports and documents, which prevents effective supervision of its work and the lawful disposal of its funds,” reads the further text of the message.

The Polish Armaments Group made a move

As “Rzeczpospolita” reminds, the founders agreed to make a one-time payment (PLN 7 million) for the foundation's purposes – as part of the “founding fund”, as well as to make annual payments (from PLN 2.5 to 3.5 million – depending on size of the entity), which were to be received by 2026. The daily contacted Orlen, which confirmed that it was “fulfilling” the contract.

However, the editors point out that some state-owned companies are currently considering the issue of further support for the foundation. The first, groundbreaking decision was recently made by Polska Grupa Zbrojeniowa. The Department of Communication and Marketing in an interview with “Rz” states that the company currently “sees no further justification for participating in this project” – we read in the response published on May 2. In this situation, can we expect a similar move from other companies? Time will tell.

Similar Posts