THREE banks have refused to extend loans to companies within Bulgartabac Holding because of the delay in the holding's privatisation.
This was announced by the Privatisation Agency (PA) on Monday.
The privatisation deal was suspended because of Supreme Administrative Court proceedings following a petition filed by three of the unsuccessful bidders for the holding's privatisation: Metatabac, Rosbulgartabac and Tobacco Holding. The hearing is scheduled for October 3.
Last week, Bulgartabac Holding executive director Georgi Kostov said that it was the companies within the holding that would bear the negative consequences of the deal because they would have difficulty in getting loans which, on its turn, will hinder the tobacco purchasing campaign.
Kostov told the press that the allocation for the purchasing campaign would not be sufficient because this year's harvest is 20 per cent higher than expected.
The PA said another disadvantage was the daily interest accrued on Bulgartabac Holding's obligations.
If Bulgartabac Holding remains state-owned, the Government would make the best effort possible to purchase the tobacco of this year's harvest, Deputy Prime Minister Nikolai Vassilev said before the meeting of the leaderships of the parliamentary groups of the National Movement Simeon II and the Movement for Rights and Freedoms with cabinet ministers on Monday.
Bulgartabac has geopolitical importance for Bulgaria and the Government was trying to "wash its hands" of the court, said Nadezhda Mihailova, leader of the Union of Democratic Forces (UDF). The geopolitical interests of the country are protected by the Government, the president and the political parties, said Mihailova following a meeting of the UDF National Executive Council on Monday. Mihailova insisted on naming those responsible for the lack of transparency in the terms and parameters of Bulgartabac's privatisation.
President Georgi Purvanov had legitimised Russian claims over assets of Bulgartabac with his recent statement that the claims were expected to be withdrawn in a few months, Mihailova said.
Purvanov said upon his return on September 21, 2002 from a meeting with his Russian counterpart Vladimir Putin that Russia might backtrack on the ownership claims over the assets of Bulgartabac.
The withdrawal of the Russian claims should not be regarded as an achievement because the claims are illegitimate, the UDF leader underscored.
Meanwhile, it appears that the Bulgartabac deal will be a major criterion in the evaluation of Bulgaria's chances for NATO membership, Foreign Minister Solomon Passi said on Sunday. The negative forecasts imply there are sound reasons for them, he added regarding recent signs that Bulgaria's invitation in Prague was not secure.
On Sunday, Prime Minister Simeon Saxe-Coburg said the delay of Bulgartabac's privatisation might become a stumbling block to Bulgaria's bid for NATO membership.
Saxe-Coburg told reporters in Veliko Turnovo that the delay of the Bulgartabac deal might become an obstacle to Bulgaria's bid to join NATO.
"The bottom line is to prove to the business community that we have laws and transparency. This will be taken into consideration by all who will see to it that the procedure takes its normal course," the prime minister said.
Answering a question, Saxe-Coburg said there were signals that certain circles were trying to obstruct Bulgaria's bid for NATO membership through scandals over Bulgartabac, without naming names.
Asked to comment on the same subject, US Ambassador James Pardew said privatisation in itself was not that important. What is important to the US as regards Bulgartabac is that the chosen companies should not involve criminal figures or anyone linked with international crime, he said. Several declarations to that effect were also made by Senator Bruce Jackson during his recent visit to Bulgaria.
This was announced by the Privatisation Agency (PA) on Monday.
The privatisation deal was suspended because of Supreme Administrative Court proceedings following a petition filed by three of the unsuccessful bidders for the holding's privatisation: Metatabac, Rosbulgartabac and Tobacco Holding. The hearing is scheduled for October 3.
Last week, Bulgartabac Holding executive director Georgi Kostov said that it was the companies within the holding that would bear the negative consequences of the deal because they would have difficulty in getting loans which, on its turn, will hinder the tobacco purchasing campaign.
Kostov told the press that the allocation for the purchasing campaign would not be sufficient because this year's harvest is 20 per cent higher than expected.
The PA said another disadvantage was the daily interest accrued on Bulgartabac Holding's obligations.
If Bulgartabac Holding remains state-owned, the Government would make the best effort possible to purchase the tobacco of this year's harvest, Deputy Prime Minister Nikolai Vassilev said before the meeting of the leaderships of the parliamentary groups of the National Movement Simeon II and the Movement for Rights and Freedoms with cabinet ministers on Monday.
Bulgartabac has geopolitical importance for Bulgaria and the Government was trying to "wash its hands" of the court, said Nadezhda Mihailova, leader of the Union of Democratic Forces (UDF). The geopolitical interests of the country are protected by the Government, the president and the political parties, said Mihailova following a meeting of the UDF National Executive Council on Monday. Mihailova insisted on naming those responsible for the lack of transparency in the terms and parameters of Bulgartabac's privatisation.
President Georgi Purvanov had legitimised Russian claims over assets of Bulgartabac with his recent statement that the claims were expected to be withdrawn in a few months, Mihailova said.
Purvanov said upon his return on September 21, 2002 from a meeting with his Russian counterpart Vladimir Putin that Russia might backtrack on the ownership claims over the assets of Bulgartabac.
The withdrawal of the Russian claims should not be regarded as an achievement because the claims are illegitimate, the UDF leader underscored.
Meanwhile, it appears that the Bulgartabac deal will be a major criterion in the evaluation of Bulgaria's chances for NATO membership, Foreign Minister Solomon Passi said on Sunday. The negative forecasts imply there are sound reasons for them, he added regarding recent signs that Bulgaria's invitation in Prague was not secure.
On Sunday, Prime Minister Simeon Saxe-Coburg said the delay of Bulgartabac's privatisation might become a stumbling block to Bulgaria's bid for NATO membership.
Saxe-Coburg told reporters in Veliko Turnovo that the delay of the Bulgartabac deal might become an obstacle to Bulgaria's bid to join NATO.
"The bottom line is to prove to the business community that we have laws and transparency. This will be taken into consideration by all who will see to it that the procedure takes its normal course," the prime minister said.
Answering a question, Saxe-Coburg said there were signals that certain circles were trying to obstruct Bulgaria's bid for NATO membership through scandals over Bulgartabac, without naming names.
Asked to comment on the same subject, US Ambassador James Pardew said privatisation in itself was not that important. What is important to the US as regards Bulgartabac is that the chosen companies should not involve criminal figures or anyone linked with international crime, he said. Several declarations to that effect were also made by Senator Bruce Jackson during his recent visit to Bulgaria.
