• November 20, 2024

Empty shelves on price fears

 Empty shelves on price fears

Cigarettes disappeared from the shelves in some Saudi cities on Sunday amid speculation on social media that the government was about to raise prices on tobacco products, reports Arab News.

Some suggested retailers were holding back stock until the government announced higher cigarette prices.

The Finance Ministry said in the country’s 2016 budget statement that it would apply “additional fees on harmful goods such as tobacco, soft drinks and the like,” but gave no date for the increased prices.

Saudi Arabia wants to reduce the bill for state-subsidized health care for its citizens, who suffer high rates of obesity and related diseases such as diabetes. Its budget strained by low oil prices, the government is also trying to boost its non-oil revenues.