Economists Tips Smuggling Boom If Cigarette Prices Raised 365%
A plan touted by some in the government to increase cigarette prices is likely to have a disastrous effect on tobacco farmers and encourage counterfeit and smuggling in the local market, a researcher has said.
Rumors of a price hike were sparked after research from the University of Indonesia’s center for health economics and policy studies found rising prices lowers cigarette consumption.
The research found that 71 percent of smokers would quit entirely if the price reached Rp 50,000 ($3.75) per pack.
DzulfianSyafrian, an economist at the Institute for Development of Economics and Finance (Indef), said any price hike would substantially affect the industry, pointing firstly to laborers and farmers who would likely lose their jobs.
Related Posts
SON To Prosecute Importers Of Fake Products
The StandardOrganisation of Nigeria (SON) has reiterated its determination to...
FICCI lauds DRI for largest seizure of smuggled cigarettes
New Delhi, June 15 (IANS) FICCIs Committee Against Smuggling and Counterfeiting...
WHO identifies fake Covishield in India, Uganda
Some unpalatable news for the country’s nationwide vaccination drive has...
Boss dubbed ‘Loadsamoney’ faces going bust after his family were ordered to pay back £400,000 from their counterfeit clothing racket
The jailed drug-dealing boss of a clothing racket faces ruin after he and his...