Postponement of privatization of "Tobacco Industry Bujanovac"

The Government of Serbia has accepted the request for postponement of privatization submitted by "Tobacco Industry Bujanovac" (DIB), which means that, after the second tender that was cancelled at the end of July 2009, there will be no new tender for sale of 19,628 stocks of that company, 57.85% of which are owned by the Share Fund and the Pension and Disability Insurance Fund.

- We want privatization, but not at all costs. We have plenty of work to do now because our main product - tobacco foil, is something we sell outside Serbia as well, and we are currently negotiating on export within the next three years - Bogoljub Tomić, the CEO of DIB, told "Danas" and pointed out that that company was satisfied with the Government's decision.

He also points out that that company is one of the most successful firms in the fallen economy of the municipality of Bujanovac. Total of 887 tons of tobacco foil was produced during the first six months of this year, which is 20% more than in the same period last year. This year's incomes of 1.26m EUR have also affected the salaries of 150 employees, of which average salary amounts to about 37,000 RSD.