According to a Sofia New Agency report, Bulgaria's tobacco monopoly Bulgartabac, which is planned to be privatised, has registered a 30 per cent loss over the first three months of the year as opposed to the same period in 2005.
Bulgartabac CEO Khristo Lachev said that the current cigarette prices boom had had a negative impact on the sales and affected the revenues of the holding. Lachev also assured that the prices of local tobacco products would remain unchanged, while prices for imported cigarettes should be lower than BGN 3 (Euro 1.50) per pack after the liberalisation of the market takes place after 1 July. Bulgartabc Holding is in the process of privatisation of which the first stage is expected to be completed within the nearest months. The consultant for the sale procedure has been picked recently, and the programme for restructuring and privatisation of Bulgartabac prepared earlier this year. The deadline for the holding’s restructuring was set at July 2006. (vt)