Eastern Company backtracks on recent decision to increase price of five locally produced cigarette brands
Egypt's cigarette monopoly, Eastern Company, has reversed its decision to raise the price of five of its second-tier cigarette brands.
On Tuesday, the publicly owned company announced price hikes of between LE0.25 and 0.75 (roughly $0.04 to 0.12) per pack.
The brands affected wereBoston, Florida, Light, Belmont and Cleopatra.
Cleopatra, Eastern Company’s most popular product, costs LE6.50 ($1) per pack.
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