Eastern Tobacco, Egypt’s monopoly cigarette producer, says that a new tax stamp that is being introduced is aimed only at reducing the black market in cigarettes and will not lead to a price increase, according to an Al-Ahram story.
Local cigarette prices have risen significantly during the past few years as taxes have been increased sharply.
Several brands of Chinese cigarettes are sold illegally on the Egyptian market and, during the three months to the end of September, Eastern’s revenue fell by 4.9 per cent to E£1.17 billion.
Eastern is said to have started introducing the new banderole on 50 per cent of its cigarette packs.
Category: Breaking News