"Philip Morris" has no intention of withdrawing from Serbia

- Tobacco company "Philip Morris" has no intention of withdrawing from Serbia - the Manager of Regulatory Affairs in Tobacco Industry Niš (DIN), Milica Bisić, said on May 22nd.

- Withdrawal is not an option. We have invested much money and the Niš-based factory is one of the best in the network of "Philip Morris" when it comes to technology and equipment - she said to the press.

The capacity of the factory in Niš, as Bisić pointed out, exceeds the needs of the local market, and there is an opportunity for export, but the new policy related to tobacco production disables export of cigarettes.

The Manager in DIN said that the prices of cigarettes may rise due to increase in excise taxes.

She said that the Government of Serbia expected larger budget incomes of 8 billion RSD in 2009 because of the increase in excise taxes on cigarettes.