For tobacco, ECC sets minimum indicative price.

The government on Monday approved a price of Rs240 per kg for tobacco being used in cigarettes - nearly 8 percent less than the recommendation - due to pressure exerted by two multinational companies. A special meeting of the Economic Coordination Committee (ECC) of the cabinet approved the minimum indicative prices of various grades of tobacco. The meeting had been convened after Commerce Adviser Abdul Razak Dawood last Friday (January 21) requested to postpone decision on the tobacco pricing summary, which was on the...