Bulgartabac Posts Tobacco Purchase Figures

Business | December 11, 2002, Wednesday // 00:00| Views: | Comments: 0
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Two hundred thousand tons of tobacco have been purchased by slated for privatization local monopoly Bulgartabac since the beginning of the year. CEO Georgi Kostov said that for local NET radio. He warned that newly introduced quality standards are inspiring tensions between producers and purchasers. In its October 29 ruling the Supreme Administrative Court stripped the preferred buyer for Bulgaria's tobacco monopoly, the consortium Tobacco Capital Partners and Clar Inns, of its status. The Court said in its motives that favourable changes in the tobacco holding's financial indicators called for a better offer and the Privatization Agency had violated the Ordinance on Competitions by failing to demand a higher price. In response, the Privatization Agency petitioned a five-member SAC panel against the decision of the three-member panel of the same court.
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