[Intl-tobacco] Morocco begins privatisation of tobacco monopoly (fwd)

[Robert Weissman]

Morocco begins privatisation of tobacco monopoly
Source: Reuters, Tuesday, 5/15/01

 RABAT, May 15 (Reuters) - Morocco has tendered for fiscal and legal
studies for the liberalisation of its tobacco sector, marking the start of
the privatisation of the monopoly.

The finance ministry set a June 20 deadline for the submission of offers
in a statement published on its website.

A senior ministry official told Reuters the tenders were the first step of
the privatisation process of state-run monopoly Regie des Tabacs, which
generates an annual 8.5 billion dirhams ($729.4 million) turnover.

"The studies will set the timetable and the mechanism of the
(privatisation)  process," he said.

The Socialist-led government two years ago launched a large-scale study on
the liberalisation of the sector, led by U.S. Arthur Andersen Co.

The official was not able to comment on the results of that study.

Established in 1910, Regie has a capital of 600 million dirhams, employs
2,500 people and operates five factories.

The firm also contributes to around 6.5 billion dirhams in receipts to the
public treasury and posted 715 million dirhams profit in 1999.

Morocco's population of 29 million consumes around 16 billion cigarettes
per year with an average four percent annual growth in sales.

($1= 11.653 Moroccan dirhams)

((Souhail Karam, Rabat newsroom, +212-37 720065 fax +212-37 722499,
rabat.newsroom@reuters.com))