Cairo – Mubasher: Eastern Co on Thursday said that its draft budget for the fiscal year 2018/2019 aims to raise its tax payments to the state treasury by 16% year-on-year.

The cigarette maker aims to pay EGP 57.5 billion in taxes in FY2018/2019, compared to EGP 49.7 billion in the current fiscal year budget, according to a statement to the Egyptian Exchange (EGX).

The Egypt-based firm plans to increase its profits by 132% in the coming fiscal year to EGP 3.25 billion.