Eastern Co will raise the prices of its cigarettes by a minimum of 150 piasters per pack as of Thursday, 12 June, chairman Mohamed Osman Haroun said.
This increase in prices comes in regards to the new health insurance law, which imposes fees on cigarettes, Al Masry Al Youm reported, citing Haroun.
Moreover, sources said that the Egyptian tobacco firm will raise the price of six brands by EGP 1.5 to EGP 3.
Sources added that Eastern Co is expected to generate around EGP 3 billion in proceeds from the increase in prices, according to Almal News.
It is worth noting that President Abdel Fattah El-Sisi had launched the first phase of the new national health insurance law last Friday.