Bulgaria - Bulgartabac stays in the economy ministry, sold by middle of 2010, starting price 100,000,000 euro..

December 31, 2009 - Bulgaria's tobacco producers have asked for the transfer of Bulgartabac Holding from the economic to the agriculture ministry.

Meeting for the perspectives of tobacco producers was held Tuesday, December 22nd in the Council of Ministers. The meeting was attended by the finance minister Simeon Dyankov, economy minister Traycho Traykov, Minister of Agriculture and Foods Miroslav Daydenov, representatives of Bulgartabac Holding and tobacco producers. As a result the Bulgarian Ministry of Economy, Energy and Tourism remains principal of the tobacco holding Bulgartabac, said economy minister Traycho Traykov. The reason is the holding’s privatization. It is believed that the economy ministry will complete the task best. Bulgartabac will be privatized by the middle of 2010, says Traycho Traykov.

Traykov: The holding’s price will start from a nine-digit sum in euro. We are closer to EUR 100,000,000 (143,274,697.61 USD).

Earlier on Tuesday ministers met with Prime Minister Boyko Borisov to discuss the perspectives before tobacco production in Bulgaria. Borisov took into account all pros and cons, the minister said. I believe Bulgartabac should be privatized, because every day of delay makes the situation worse, he highlighted.

The major problem Bulgartabac faces is contraband, but the minister says the Interior Ministry and Finance Ministry will resolve it. (Bulgaria - one third of the tobacco products sold are illicit..)

Reference: Bulgartabac to be privatized by the middle of 2010 (ROUNDUP), Focus News Agency, 12/29/2009.

Bulgaria related news briefs:
Bulgaria - tobacco producers propose Bulgartabac transfer..;
Bulgaria - government, tobacco growers reach subsidy agreement..;
Bulgaria - start of steps leading to the privatization of the state-owned cigarette monopoly Bulgartabac..;
Bulgaria - police hold smoking protest over lack of bonuses..;
Bulgaria - police busts major cigarette contraband ring..;
Bulgaria - Bulgartabac Holding” will be privatized in 2010..;
Bulgaria - MPs Impose Hefty Fines on Cigarette Sales Violators..;
Bulgartabac Chief - cigarette tax increase as of January 1, 2010..;
Bulgaria Bulgartabac Holding Sells 23% of Shares to Mutual Funds..;
Bulgaria - more than 70% of smokers want to quit..;
Bulgaria - cigarette taxes going up each year except 2011..;
Bulgaria - chair of the economic committee in parliament disapproves of planned raise in excise duties on cigarettes..;
Bulgaria and others - smoking ban, increased cigarette taxes, smuggling..;
Bulgaria - Cigarette excise duties will be increased next year..;
Bulgaria - cigarette contraband, government loses BGN 920M yearly..;
Bulgaria - one third of the tobacco products sold are illicit..;
Bulgaria - new government to speed-up Bulgartabac sale..;
Bulgaria - Fake Victory Light cigarettes..;
Bulgaria's tobacco monopoly may be up for sale..;
Bulgarian lawmakers vote to ban smoking in all publc places from June 2010..; Bulgarian tobacco company Sofia-BT exports increase by 541 percent..;
Does Russia own Bulgaria's tobacco monopoly, Bulgartabac..;
EU percent of adults smokers -highest Greece 1 , Bulgaria 2.. - lowest Slovenia..;
Bulgaria - 1 in 3 youths smoke / half of pregnant women smoke..;
PMI training Bulgarian custom officers to stop cigarette smuggling..;
Philip Morris International (PMI) was truly happy they had been back in the Bulgarian cigarette market for a year and had already had 6.8% of market..;
WHO FCTC Protocol to Prevent Illicit Trade in Tobacco Products Won't Be Completed Until End of 2010..;
WHO Report on the Global Tobacco Epidemic 2008..;
Bulgaria Enters 2009 with Cigarette Prices Hike...
Bulgaria is marking Tuesday, November 10, 2009, the 20th year since the internal coup at the Bulgarian Communist Party which led to the crumbling of the communist regime..



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