Health / Economy / PMN News / PMN World / AP

Egypt ups prices of cigarettes as part of economic reforms

Posted On: Jul 12, 2018   |   Posted By: National Post

CAIRO - Egypt hiked the prices of cigarettes on Thursday, the latest measure amid reforms designed to overhaul the country's troubled economy still reeling from a costly 2011 uprising.
The announcement was made by the chairman of Egypt's top cigarette manufacturer in a televised interview late Wednesday. Mohamed Haroun, Eastern Tobacco Company chairman, said his company will impose an increase of 1.5-3 Egyptian pounds, or about 8-17 cents, per pack of smokes.
The increase would, among other things, help fund a new health services system by over 3 billion Egyptian pounds annually, or $168 million, he said.
Egyptians consume about 83 billion cigarettes each year, according to Haroun. He noted that process of cigarettes had gone up about five times between 2014 and 2017.
Egypt recently introduced a new wave of price hikes for fuel, drinking water and electricity, as well as for new cellular phone lines and monthly landline phone bills. Prices for issuing passports and car licenses also went up steeply.
Poor and...

Continue reading ...

 








Secret Service Agent Suffers Fatal Stroke on the Job

Secret Service Agent Suffers Fatal Stroke on the Job

A 19-year veteran of the Secret Service has died after suffering a stroke during President Trump's visit to the UK. The 42-year-old agent, identified as Nole E. Remagen, was on... Read more ...

Ford recalls 550K vehicles that could roll away unexpectedly

Ford recalls 550K vehicles that could roll away unexpectedly

The recall affects Ford Fusion and Escape drivers. Read more ...

Kawhi Leonard has been traded to the Toronto Raptors for DeMar DeRozan and...

Kawhi Leonard has been traded to the Toronto Raptors for DeMar DeRozan and both players are seemingly not happy about it

The San Antonio Spurs have agreed to a trade that would send the disgruntled Kawhi Leonard to the Toronto Raptors for DeMar DeRozan. Two other players are involved in the deal... Read more ...

Parents charged with murder after crying infant dies in 'timeout'

Parents charged with murder after crying infant dies in 'timeout'

Police say the parents placed the 4-month-old boy under a comforter because he "wouldn't stop crying." Read more ...

Google hit with record $5 billion EU fine in Android antitrust case

Google hit with record $5 billion EU fine in Android antitrust case

European Union regulators today slapped Google with a massive $5 billion penalty for abusing the dominant position of its Android mobile operating system. Antitrust regulators... Read more ...

Soccer team rescued after 18 days in cave expected to leave hospital

Soccer team rescued after 18 days in cave expected to leave hospital

Some of the boys were treated for minor infections during their hospital stay. Read more ...

Ex-FBI head James Comey urges public to vote for Democrats

Ex-FBI head James Comey urges public to vote for Democrats

Former FBI Director James Comey is urging "all who believe in this country's values" to vote for Democrats in the upcoming midterm elections. Read more ...

MLB takes action after Brewers All-Star's hateful tweets revealed

MLB takes action after Brewers All-Star's hateful tweets revealed

Josh Hader will have more than just opposing batters to focus on as the second half of the season resumes. The Brewers reliever will undergo sensitivity training and... Read more ...

Rep. Jim Jordan interviewed in doctor sex abuse inquiry

Rep. Jim Jordan interviewed in doctor sex abuse inquiry

COLUMBUS, Ohio - Former Ohio State University wrestling coach and current U.S. Rep. Jim Jordan was interviewed by the law firm investigating allegations that a now-dead team... Read more ...

Darrelle Revis announces retirement from NFL after 11 seasons

Darrelle Revis announces retirement from NFL after 11 seasons

Revis, 33, ends his career with 29 interceptions, four forced fumbles and two sacks. Read more ...