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Carreras sales drop 25% since new public smoking laws
2013-10-02 13:19:14 | (0 Comments)
Tobacco distributors Carreras Limited says its sales have been hit hard, slipping by almost 25 per cent, almost three months into the ban on smoking in public spaces.
The Government-ban on smoking took effect on July 15.
Carreras contributes almost $11 billion in taxes to the nation's coffers annually, representing approximately four per cent of the national budget.
Head of corporate and regulatory affairs at Carreras, Christopher Brown says between July and September 30, the company’s sales have dropped by about 25 per cent over the corresponding period last year.
Brown insists the company is not opposed to the Government’s obligation to meet national and international priorities.
However, he says a major problem lies in the lack of clarity in the regulations governing the smoking ban as it relates to where individuals can smoke.
Brown says the fall off in sales will impact the National Health Fund which gets 75 per cent of its revenues from tobacco sales.
He also notes that there has been a decline in contributions under the Special Consumption Tax.
Carreras is scheduled to make a presentation before a select committee of Parliament on Human Resources and Social Development this afternoon.
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Source: The Gleaner/Power 106 News
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