Philip Morris seeking to increase its cigarette prices in Pakistan starting this month

Nevin Barich

April 2, 2014 (Pakistan & Gulf Economist) – A leading multinational cigarette manufacturer has decided to increase prices of various brands of cigarettes before budget (2014-15) and sought Federal Board of Revenue's permission for sale of old price printed finished goods/packing material stocks under excise laws, source said to research analyst-PAGE. In this regard, the FBR has received a letter from Philips Morris (Pakistan) Limited on Friday seeking increase in prices of cigarettes from April 2014. According to the letter of Adnan Gulzar Tax Manager of the said company to the FBR dated March 20, 2014, the company is contemplating an increase in the prices of its products. Source also said to him, in this respect the company would like to bring it to FBR's attention that some of the company's finished goods are either in warehouses or in transit from the company's suppliers with the current printed retail price.

* All content is copyrighted by Industry Intelligence, or the original respective author or source. You may not recirculate, redistrubte or publish the analysis and presentation included in the service without Industry Intelligence's prior written consent. Please review our terms of use.