Rumors behind hike in cigarettes prices are baseless, ‘greedy merchants’ behind shortage: official

Rumors of expected rise in cigarettes’ prices were baseless and there won’t be any expected increase during the upcoming period, according to Ibrahim al-Imbabi, the head of the General Department of Smoke and Cigarettes at the Federation of Industries.

He added that there is no shortage in cigarettes explaining that a number of merchants have caused a shortage in local cigarette due to “their greed.”

“The price will not increase… there is no need for storage,” he added.

Imbabi stated that it is imperative to protect the consumer, pointing out that tax revenues from cigarettes reach 65 billion Egyptian pounds.