PiS report on state-owned companies. Minister: I am shocked by the level of falsehood and manipulation.

Minister of State Assets discusses the PiS report on State Treasury Companies TVN24

„I believe that citizens have the right to know the actual state of affairs,” stated Jakub Jaworowski, Minister of State Assets, during a press conference on Thursday, addressing a report on state-owned enterprises presented by Law and Justice MPs the day before. He expressed his „shock at the degree of falsehood and manipulation” found in the opposition’s assertions.

On Thursday, Minister of State Assets (MAP), Jakub Jaworowski, convened a press conference regarding the report released on Wednesday by PiS MPs titled „Balance of losses and lost profits 2024-2025 concerning the situation in companies with State Treasury holdings.”

The report’s authors assert that „most projects critical to state interests, initiated prior to December 13, 2023, have either been abandoned or their implementation has significantly stalled.” They further accuse the government of breaching corporate governance standards by replacing company management.

Jaworowski: I am appalled by the extent of falsehood and manipulation

„I believe that citizens deserve information about the true picture of the situation,” Jakub Jaworowski remarked at the outset of the conference. He went on to say that he was „appalled by the extent of falsehood and manipulation underlying the claims made by opposition representatives.”

He emphasized that his approach to overseeing companies with state participation is „entirely different from the opposition’s perspective.”

As he elaborated, the goal is to enhance the value of these companies for the benefit of Polish citizens, ensuring that there are sufficient funds available, including for future pensioners, and enabling the companies to contribute to the execution of the state’s economic policy.

Outcomes of state-owned companies

Minister Jakub Jaworowski revealed that the performance of companies in the first quarter of 2025 showed substantial improvement compared to the same quarter in 2024. Moreover, in the first quarter, their capitalization, or share value, surged by 43% year-on-year, reaching nearly PLN 410 billion, surpassing the growth rates of private firms.

He asserted that the opposition’s claims regarding the imminent „destruction” of these companies by 2024 are unfounded, as new management boards were appointed to them in the previous spring.

He noted that the majority of companies with State Treasury holdings are significant economic entities, and the bulk of economic activities within them in 2024 continued in the same manner as in 2023.

Minister of State Assets Jakub Jaworowski during the PAP/Rafał Guz press conference

Azoty Group

The PiS report indicated that due to the challenging financial situation, Grupa Azoty opted to curtail investment spending to approximately PLN 650 million in 2025, down from PLN 1.35 billion in 2024, with key projects like Polyolefins being either suspended or postponed.

According to the Minister of Assets, PiS is advocating for this investment to be continued „at all costs,” despite Grupa Azoty’s declining EBITDA (operating earnings before interest, taxes, depreciation, and amortization) and rising debt. „PiS has burdened the company with PLN 14 billion in debt and has jeopardized its viability,” he asserted. Jaworowski remarked that polyolefins are advantageous in business terms, but Azoty cannot sustain such high expenditures.

He further stated that the business plan anticipated low gas prices, implying that its creators assumed it would be sourced from Russian gas. „Large investments must be economically feasible, and if they are, we will pursue them,” declared the head of MAP.

Polish Post

In the report, PiS accused MAP and other ministries of permitting „an inadequately swift restructuring of Poczta Polska„, resulting in the market being ceded to private operators, the squandering of decades of accumulated assets, and employee layoffs.

Jaworowski pointed out that the decline in employment at Poczta Polska began in 2019, but it was only the current management that established the Voluntary Redundancy Plan.

– The courier services market has abandoned them; they had no strategy other than layoffs – remarked the minister, addressing the previous management of the Post Office.

Orlen and PKO BP

According to PiS, there is an „unjustified increase in Orlen’s retail margin, which is projected to reach unprecedented levels in 2024 and 2025,” and „Orlen’s excess profits are being generated at the expense of the broader economy.” Simultaneously, the report indicates that in

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