Morocco’s state owned Regie des Tabacs reported that its contribution to the state’s general budget increased by 6.3 percent in 2001 reaching $597 million. The country’s tobacco monopoly recorded an 8.9 billion Moroccan dirham ($838.6 million) turnover in 2001, selling 14.2 billion cigarettes over the course of the year.
This past March, Morocco’s Ministry of Economy and Finance published offers in London’s financial markets to choose international banks for assisting in the process of partially privatizing Regie des Tabacs.
The partial sale of the company is part of the government's ongoing privatization plan. The whole tobacco sector is expected to be completely liberalized by 2004. Established in 1910, Regie has a capital of 600 million dirhams ($52 million) and manufactures 23 types of tobacco products.— (menareport.com)
© 2002 Mena Report (www.menareport.com)
