Press: Finance Ministry considers privatizing state-owned firms to pay for pension reform

31-12-2010

The Czech Finance Ministry is considering privatizing several state-owned firms to pay for the planned pension reform, the daily Mladá fronta Dnes reported on Thursday. By mid 2011, the Finance Ministry would complete a review of state property suitable for privatization, the proceeds of which could pay for the planned pension reform. The paper said that Czech Post, the Budweiser Budvar brewery and the giant forestry company Lesy ČR were among those considered for privatization. Deputy finance minister Zdeněk Zajíček told the daily the privatization of these firms, along with several state-run research institutes could fetch “hundreds of billions” of crowns.