Babiš cool on more state aid for bankrupt OKD

Finance Minister Andrej Babiš has reacted coolly to a call from mining company OKD, which has been in bankruptcy since May, for state aid for the Paskov mine in North Moravia. In a letter to the Ministry of Industry and Trade, OKD said it needed CZK 723 million to cover severance payments for employees and to wind down the mine. Mr. Babiš said his ministry did not envisage giving the company another state loan on top of the CZK 700 million it received earlier this year. The Paskov mine is due to close at the end of March.

Author: Ian Willoughby