Ruling parties agree on commission to investigate privatization of Unipetrol

11-10-2005

The leaders of the Czech governing coalition have agreed on setting up a commission to investigate the privatization of the petrochemicals firm Unipetrol, going back to the company's founding in the early 90s. The ruling Social Democrats are suspected of having taken bribes and sold Unipetrol to PKN Orlen of Poland under highly unfavourable conditions for the Czech Republic. A Polish Parliamentary commission investigating the circumstances of the privatization recently suggested that the Czech Republic had lost billions of crowns in the process.