AIRLINK 73.44 Increased By ▲ 0.44 (0.6%)
BOP 5.40 Increased By ▲ 0.05 (0.93%)
CNERGY 4.33 Increased By ▲ 0.02 (0.46%)
DFML 27.80 Decreased By ▼ -0.75 (-2.63%)
DGKC 76.85 Increased By ▲ 2.56 (3.45%)
FCCL 20.68 Increased By ▲ 0.33 (1.62%)
FFBL 31.33 Increased By ▲ 0.43 (1.39%)
FFL 10.14 Increased By ▲ 0.08 (0.8%)
GGL 10.47 Increased By ▲ 0.08 (0.77%)
HBL 115.85 Decreased By ▼ -0.12 (-0.1%)
HUBC 132.21 Increased By ▲ 0.01 (0.01%)
HUMNL 6.80 Increased By ▲ 0.12 (1.8%)
KEL 4.20 Increased By ▲ 0.17 (4.22%)
KOSM 4.65 Increased By ▲ 0.05 (1.09%)
MLCF 39.45 Increased By ▲ 0.91 (2.36%)
OGDC 135.09 Increased By ▲ 1.24 (0.93%)
PAEL 23.93 Increased By ▲ 0.10 (0.42%)
PIAA 27.57 Increased By ▲ 0.44 (1.62%)
PIBTL 6.92 Increased By ▲ 0.16 (2.37%)
PPL 113.50 Increased By ▲ 0.70 (0.62%)
PRL 28.00 Decreased By ▼ -0.16 (-0.57%)
PTC 15.05 Increased By ▲ 0.16 (1.07%)
SEARL 56.70 Increased By ▲ 0.28 (0.5%)
SNGP 65.95 Increased By ▲ 0.15 (0.23%)
SSGC 11.03 Increased By ▲ 0.02 (0.18%)
TELE 9.11 Increased By ▲ 0.09 (1%)
TPLP 11.96 Increased By ▲ 0.06 (0.5%)
TRG 69.75 Increased By ▲ 0.65 (0.94%)
UNITY 23.85 Increased By ▲ 0.14 (0.59%)
WTL 1.36 Increased By ▲ 0.03 (2.26%)
BR100 7,499 Increased By 64.4 (0.87%)
BR30 24,377 Increased By 156.8 (0.65%)
KSE100 72,104 Increased By 744.7 (1.04%)
KSE30 23,800 Increased By 233.4 (0.99%)

imageSEOUL: South Korea on Thursday proposed a steep 80 percent hike in cigarette prices to cut consumption in a nation with one of the world's highest male smoking rates.

The decision requires parliamentary approval, but Health Minister Moon Hyung-Pyo said it was necessary to counter what has become the "biggest threat to national health".

The proposal would see the average price of a packet of cigarettes rise from 2,500 won ($2.42) to 4,500 won from January 1 next year.

Moon said his ministry predicted the increase would help cut tobacco consumption by 34 percent and raise annual tax revenues by 2.8 trillion won.

Around 44 percent of adult South Korean men are smokers, the highest rate among member countries of the Organisation for Economic Cooperation and Development.

The government has taken a series of measures in recent years to bring down the rate, including a ban on smoking in public places.

As well as the price hike announced Thursday, Moon said tobacco packaging would have to include pictures of the harm caused by smoking, while tobacco ads would be banned in retail stores.

"We hope our comprehensive anti-smoking measures will lead to a considerable cut in smoking and social spending on health," Moon said.

The Korean Smoking Association has opposed the increase, accusing the government of scapegoating smokers to raise tax revenues and offset rising welfare costs.

The government has promised to spend 316 trillion won between now and 2018 on social welfare.

Copyright AFP (Agence France-Presse), 2014

Comments

Comments are closed.