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In a shock to Eastern Tobacco Company smokers on Wednesday, the company announced earlier this morning that prices for “Mondial” and “Mondale Switch” cigarettes will move from Wednesday.
The “Eastern Tobacco” company addressed the Egyptian Stock Exchange, in a statement, announcing the new prices, which are: A Mondial pack (red / blue / silver) of 20 cigarettes will amount to 20 pounds, instead of 18 , 5 pounds, an increase of 1.5 pounds.
The company set the price of a “Mondial Switch” pack of 20 cigarettes at 23 pounds, an increase of 4.5 pounds per pack, instead of 18.5 pounds, while noting that these prices take into account what is established in the VAT Law and its amendments and the Law of the Comprehensive Health System No. 2 of 2018.
And at the beginning of last September, “Eastern Tobacco” decided to increase the prices of some of its cigar and hair smoke products, indicating in a disclosure statement to the administration of the stock exchange today that the company’s board of directors approved the new price list by increasing the retail price of some of the company’s products from cigars and hair smoke, in accordance with the provisions. The Value Added Tax Law and its amendments, and the Law of the Comprehensive Health Insurance System No. 2 of 2018.
And according to what company officials confirmed weeks ago, to Al-Watan, there are no decisions related to the increase of any of the traditional cigarettes, and according to the guarantees of Morsi Abu Amer, a spokesman for the company, the announced increases in September they are limited only to cigars, smoke and hair products. , Explaining that the prices of popular cigarettes produced through the company remain the same, without any change.
Previously, the local cigarette market in Egypt suffered from a notable shortage of supply, although the only local cigarette producer, Eastern Tobacco Company, confirms that there are no production problems and attributes the crisis to increased demand for its products.
