Established by Fathi Ibrahim Bayoud 2005 - Homs

Egypt ups prices of cigarettes as part of economic reforms

Middle East | 2018-07-12 12:08:00
Egypt ups prices of cigarettes as part of economic reforms
Egypt has hiked the prices of cigarettes, the latest measure amid reforms designed to overhaul the country's troubled economy, still reeling from a costly 2011 uprising.

The government's decision, which took effect Thursday, imposes an increase of 1.5-3 Egyptian pounds, or about 8-17 cents, per pack of smokes.

Mohammad Haroun, Eastern Tobacco Company chairman, Egypt's top cigarette manufacturer, told local media earlier the increase would help fund a new health services system by over 3 billion Egyptian pounds annually, or $168 million.

He says Egyptians consume about 83 billion cigarettes each year.

Egypt has introduced hikes on fuel, drinking water and electricity as well as on new cellular phone lines, monthly charges, issuing passports and cars' licensing.

President Abdel-Fattah al-Sisi has repeatedly urged patience as reforms take effect.
AP
Comments (0)

Post Your Comments

fill all fields below
*This confirmation code will prevent auto submit
X :Latest News
Palmyra's historical spring flows again after 25 years of drought      European bank boosts Turkish lira financing in 2018      Russia dismisses Islamic State responsibility claim for deadly blast      Paul Manafort: Trump's disgraced campaign chief said he was placing people in administration, court filing says      Israel demolishes home of accused Palestinian killer      Vietnam 'willing' to host Trump-Kim summit: report      Libya: 10 killed, 41 wounded in armed clashes      US trained UAE troops for air combat in Yemen: Report