Industry and Trade Minister Mládek: part of state loan to OKD might not be repaid

Industry and Trade Minister Jan Mládek has conceded that part of the one billion crown loan that the state is considering lending the bankrupt coal mining company OKD might not be repaid. He made the statement in a debate on TV Prima on Sunday. Mr Mládek said the money should be used primarily to pay wages to employees and to finance requalification courses, adding that in such case the state should undergo the risk. OKD declared bankruptcy at the beginning of May, following a long decline due in large part to plummeting coal prices. The right-wing opposition is against the state providing assistance to the private company.

Author: Ruth Fraňková