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JTI Raises Cigarette Price After Excise Duty Hike
 
News From : DagangHalal.com (6/10/2010)

PETALING JAYA: JT International Bhd (JTI) has increased the retail price of its cigarette brands in Malaysia for packs of 20 sticks by 70 sen effective yesterday.

In a statement, the company said the price for Winston, Mild Seven, Camel and Salem were raised following the hefty 16% hike in excise duty by the Government on Oct 1.

"JTI is very disappointed with the Government's decision to impose this large excise duty increase of 3 sen per stick of cigarette.

"The other tobacco players have mentioned their concern on the potential growth of illicit cigarettes in Malaysia due to the impact of the large excise increase, and we concur," said managing director Shigeyuki Nakano.

"We have continuously appealed to the Government that a more holistic approach is needed to meet not only the Government's health but also revenue objectives."

JTI believes the 16% excise increase will spur the growth of the country's multibillion ringgit illicit cigarette trade, significantly benefiting illegal operators.

As such, the company believes is is imperative that the Government continue and strongly intensify its enforcement efforts to combat the smuggling and trade of illicit cigarettes.

"We would like to call upon the Government to have more integrated initiatives among the law enforcement agencies - the Royal Malaysian Customs, Health Ministry, Royal Malaysian Police, Malaysian Maritime Enforcement Agency and Domestic Trade, Consumerism and Cooperative Ministry to get the incidence of illicit cigarettes under control," Nakano said.

He said JTI would continue to work closely with the Government to combat the growing problem of illegal cigarettes in the country.

- TheStar.com

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