July 25, 2017 13:28
More than 1.7 billion packs of cigarettes have been sold in the second half-year running, bringing projected tax revenues from cigarette sales to over W10 trillion this year (US$1=W1,115).
According to the Ministry of Strategy and Finance on Monday, 1.72 billion packs of cigarettes were sold in the first six months of this year.
Cigarette sales reached 2.03 billion packs in the first half of 2014, but a hike in price sent sales tumbling to 1.46 billion in the same period of 2015. But since then sales volume rose again to 1.78 billion packs last year.
The government raised the price of cigarettes in 2015 from W2,000 to W4,500, in an effort to reduce smoking, but people were apparently not long deterred.
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