Cigarette prices have risen in Egypt’s local market by an average of three pounds per pack, according to the head of Chamber of Commerce’s Tobacco Division Ibrahim Imbaby.
The price of the Cleopatra Box (10 cigarettes) rose to LE20, compared to LE15 previously, while Cleopatra King Size cigarettes have risen to LE27 instead of LE23.
The prices of Cleopatra Soft Queen, Boston, Super, Mondial, Black Label, Cleopatra Box (20 cigarettes) and Matossian Super cigarettes also increased to LE27 from LE24.
The price of Viceroy and Pall Mall increased to about LE 42 instead of LE 33.
The Managing Director and CEO of Eastern Tobacco Company, Hani Aman, announced that the company stopped selling cigarettes on Tuesday, pending the approval of new prices.
The Official Gazette had published the government’s decision to amend some provisions of the value-added tax law on cigarettes, after the House of Representatives approved it.
The law imposes new increase in the prices of cigarettes and tobacco.
The Ministry of Finance targets tax revenues from the tobacco and cigarette sector at LE88.171 billion in the budget for the current fiscal year 2023-2024, compared to LE 86.448 billion for the fiscal year ending last June.
Source: Egypt Independent