Welp, this was bound to happen someday.
Following BAT’s decision to increase the prices of their cigarettes brands last week, JT International (JTI) and Philip Morris (PMI) have also raised prices by as much as RM3.20 or 23.2% per pack of 20 sticks.
According to The Edge Financial Daily, the new price structure for the 2 tobacco companies came into force last Friday (6th November). The hikes followed an excise tax increase on tobacco products announced by the government on 3rd November, which saw an increase of over 40%.
BAT was the first to react to the excise duty hike, raising prices across its cigarette portfolio by as much as RM3.20 per pack last Wednesday (4th November).
The Edge Financial Daily also quoted JTI Malaysia director of corporate affairs and communications Azrani Rustam as saying:
I can confirm that we have raised our prices, effective last Friday, and the quantum of increase is RM3.20 across all our products. The reason for the increase is due to the recent excise duty hike.
To that effect, according to PMI’s new price list seen yesterday, a pack of Marlboro cigarettes (20 sticks) now costs RM17, up RM3.20 from RM13.80 previously.
A pack of L&M now retails at RM15.50, RM3.20 more than RM12.30 previously, while Sampoerna Avolution cigarettes go for RM15.30, up RM3.30 from RM12.
Sampoerna A Red and A Menthol cigarettes now retail at RM14.50 per pack, up RM2.50 from RM12 previously. Prices of Sampoerna U cigarettes, however, remained unchanged at RM12.
Did anyone else see this coming a mile away? Will this discourage you from smoking though?
Source: The Edge.