Prime Minister Mostafa Madbouly followed the business activity of the Eastern Company for tobacco products in a Monday meeting at the government headquarters in New el-Alamein City. The meeting dealt with developments in providing the raw materials necessary for the manufacturing operations of the company’s various products, especially cigarettes. A source familiar with the Eastern Company said that the cabinet meeting discussed the government’s preparations to increase the company’s documentary credits to increase the daily production quantities of cigarettes. The source added, speaking on condition of anonymity, that the company intends to increase production, and has the ability to increase production by the equivalent of 50 million cigarettes, or five million packs of cigarettes, to reduce price hikes. The head of tobacco division at the Egyptian Federation of Industries Ibrahim Imbaby, said that a breakthrough in the cigarettes crisis depends on issuing the tax legislation delayed since June.

Source: Egypt Independent August 15, 2023 19:46 UTC