[Intl-tobacco] Morocco to privatize tobacco firm in 1st half 2002

[Robert Weissman]

Morocco to privatise tobacco firm in 1st half 2002


RABAT, Nov 16 (Reuters) - Morocco will partially sell tobacco monopoly
Regie
des Tabacs in the first half of 2002 as part of the government's ongoing

privatisation plan, a Finance Ministry official said on Friday.

The Casablanca-based Regie des Tabacs showed a turnover of 8.4 billion
dirhams ($732 million) in 2000, of which 6.0 billion dirhams were
allocated
to the state budget.

"As specified in the 2002 draft budget, Regie des Tabacs is among half a

dozen firms to be sold next year...the legal proceedings are now under
way
for its partial sale by June 2002," the official told Reuters.

The draft budget is currently being discussed in parliament for adoption
by
the end of December.

The budget forecasts 12.5 billion dirhams in receipts from
privatisation,
mainly from national telecoms operator Maroc Telecom, Banque Centrale
Populaire (BCP), car assembly plant Somaca and Regie des Tabacs, the
official said.

He said a plan was launched in recent months to reduce Regie des Tabacs'

production costs and improve productivity. The whole tobacco sector will
be
liberalised in 2004, he added. Set up in 1967, Regie des Tabacs employs
2.440 people and produces more than 14 billion cigarettes per year.
Morocco
has a population of 30 million

Since the government launched in 1993 a plan to sell 114 state-owned
companies the Treasury has cashed around 39 billion dirhams in
privatisation
receipts.

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