Smokers in Sri Lanka are now facing higher costs as the Ceylon Tobacco Company announces a substantial increase in cigarette prices across four categories.

The decision comes in the wake of an upward revision in Excise Duty and Value Added Tax (VAT), resulting in price hikes of Rs. 5, Rs. 15, Rs. 20, and Rs. 25 per stick, effective today.

The Ceylon Tobacco Company cites the adjustment in taxes as the primary factor behind the surge in cigarette prices.

The increase in Excise Duty and VAT, coupled with the subsequent rise in cigarette prices, reflects the government's effort to enhance revenue streams while discouraging tobacco consumption.