“We are responsible for the mood of the Egyptian people as we control 75% of the cigarette market in Egypt,”said Hany Aman, president of the eastern smoke company eastern company
.He added during a telephone intervention on the “last of the day” program, presented by the journalist Tamer Amin on the "An-Nahar" channel: "accustomed to the 6th and 7th of each year, traders remain anticipating that there may be a new tax increase on cigarettes, because they will almost stock up and that will cause the big rise in the pack of cigarettes.
He stressed:”the price of a pack of cigarettes is 24 pounds and has increased since March, but we heard that it is sold for 50 pounds in the market, and we are working with the concerned and regulatory agencies to control the large quantities stored".
He pointed out that the volume of manufacturing has been rationed to cover the market throughout the year in light of currency shortages and supply chains affected by the Russian-Ukrainian war, but more quantities of cigarettes will be pumped to cover the market starting next week.
The eastern company announced that the prices of its products are stable and have not changed since the last increase in March مؤك confirming that the prices of all its products ٢٤ pounds per pack (جارة cigarette), including the most demanded Cleopatra in the markets.
The company called on traders and workers in the cigarette market to adhere to the official prices and not to increase them because this puts the sales official under penalty of tax evasion, and the company appeals to the masses of consumers to use the QR code to confirm the official prices before buying, as the company committed to printing the price code on all its products to facilitate consumers to identify the current price of products.
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The company thanked all traders who are keen to comply with the sale at official prices and called on everyone to follow suit, and the company confirmed continuing to join hands with the relevant agencies to address non-compliant traders who collect cigarettes and block them from trading to raise their prices.
In previous statements, Hani Aman, CEO and managing director of eastern company, denied moving cigarette prices, stressing that prices have not changed since March ٢٠٢٣ pointing out that the products are available in the markets according to the natural needs of the market, and explained that there are new ideas being studied by the company for implementation during the coming period to help the concerned devices and address non-compliant traders.
Eastern company is an Egyptian Joint Stock Company subject to the Law No. 159 for joint stock companies, classified among the top 50 Egyptian companies for the year 2023 according to “Forbes Middle East", and the company seeks through quality policy to achieve excellence, competitiveness and high profitability of its products and win the satisfaction of its customers in all local and foreign markets, has the international standard (ISO 9001: 2015), the company produces cigarettes, pipe tobacco, cigars and honey products, and its market share is more than 74%.
Source : Veto
