Minister Jaworowski points at the opposition and shows hard data about companies

• Minister of State Assets Jakub Jaworowski reacted to Wednesday's PiS report entitled "Balance of losses and lost profits 2024-2025 on the situation in companies with State Treasury shareholding", in which the government is criticized for negligence in supervising the largest companies.
• During Thursday's press conference, he presented the results of companies supervised by MAP. He noted that the profit of companies with State Treasury shareholding this year amounted to PLN 3.7 billion.
• From the beginning of January to mid-July, the total capitalisation of state-owned companies listed on the stock exchange increased by as much as 43.3%, reaching almost PLN 410 billion, i.e. PLN 123.7 billion more than at the beginning of the year.
• Will these results protect the Ministry of Assets from the announced changes that Prime Minister Donald Tusk is reportedly preparing in the government and companies?

"Recently elected boards are watching every penny and considering how to invest it wisely. We invest where the state's strategic interest requires it," said Jakub Jaworowski, Minister of State Assets, on Thursday, July 17, during a press conference on the situation in state-owned companies.

The conference of the Ministry of State Assets (MAP) was the minister's response to criticism from Law and Justice (PiS) MPs , who on Wednesday, July 16, released a report entitled "Balance of Losses and Lost Benefits 2024-2025 on the Situation in Companies with State Treasury Participation." Its authors claim that important state projects, developed before Donald Tusk's government was sworn in, have been abandoned or scaled back by the ruling coalition.

They also accuse the government of violating corporate governance rules when replacing management in companies with State Treasury shareholding.

The head of MAP gives examples of companies and their results

During a meeting with the media lasting several dozen minutes, Jaworowski did not hide his indignation at the "scale of falsehood and manipulation" of the opposition.

He assured that his vision of supervision over companies comes down to ensuring that these companies earn money for themselves and for the future pensions of Poles.

He also cited the latest results as evidence of MAP’s good management and supervision of the companies.

Jaworowski recalled that from the beginning of 2025 to July 15, 2025, the value of companies with State Treasury shareholding increased by 43.3%, to PLN 409.7 billion .

- This means that the value of these companies increased by over PLN 123.7 billion - calculated the head of MAP.

Jaworowski cited the state-owned fuel giant as an example of a company that exceeded PLN 100 billion in value for the first time in history.

Orlen's record valuation is driven by a dynamic increase in its share price (+77% since the beginning of the year), strong financial results, LIFO EBITDA (earnings before interest, taxes, depreciation and amortization + inventory valuation - ed.) in the first quarter of 2025 amounted to PLN 11.6 billion, and the effects of the merger with PGNiG, Lotos and Energa, Jaworowski enumerated.

He also praised the Polish Armaments Group (PGZ) , which is expected to be listed on the stock exchange after consolidation. The value of orders for various types of weapons at PGZ has exceeded PLN 120 billion .

- For eight years, PiS has done nothing to build large-caliber ammunition factories, and now the Group already has PLN 2.4 billion for this purpose - Jaworowski gave an example.

PZG is one of the companies mentioned in the above-mentioned report commissioned by PiS, as the entity where government investments were to be abandoned.

The Polish Post and Azoty. The agony there lasted for years.

In his speech, Jaworowski did not shy away from companies in difficulty mentioned in the opposition report, e.g. Poczta Polska .

PiS accuses Tusk's government of insufficient restructuring of the company, which is 100% state-owned, which allegedly resulted in the loss of the market and its handover to private operators, as well as the squandering of the company's assets and mass layoffs.

Jaworowski recalled that the decline in employment at Poczta Polska began in 2019, i.e. during the PiS government, but it was only the current management that created the Voluntary Redundancy Plan.

"The courier services market has vanished from them; they had no plan other than layoffs," he said of the previous Polish Post management, adding: "Everyone was growing in this market except Poczta Polska. Their only plan to save this market was layoffs. This is only changing today."

What will happen to the ministry after the government reshuffle?

Tensions around the Ministry of State Assets are growing with each passing day, bringing us closer to the date of the announcement of the government reshuffle (which is to take place on July 25).

When it comes to depoliticizing state-owned companies, I will propose a radical change, but I will not allow any games on this issue. Anyone who knows me (...) knows that I have an obsession with nepotism and cronyism," Prime Minister Donald Tusk said in an interview with the Polish Press Agency at the end of June.

The Polish Press Agency (PAP) also recently reported that the Chancellery of the Prime Minister (KPRM) would take over oversight of strategic companies from MAP. This would significantly weaken the ministry, if it still exists after the changes.