Domestic cigarette sales: Khyber Tobacco urges FBR to address persistent decline

ISLAMABAD: Khyber Tobacco Company Limited (KTC) has asked the Federal Board of Revenue (FBR) to address the persistent decline in domestic cigarette sales due to massive increase in the smuggling of cigarettes of international brands, openly available in markets.

In a statement issued here on Friday, the company emphasised the need for continued vigilance and collaborative efforts to eradicate the menace of smuggled cigarettes from Pakistan’s markets.

The company said it had become the first national tobacco manufacturing company to implement track and trace tax stamps on its products and was committed to be fully compliant to all applicable health and fiscal regulations.

The company stated that implementing the track and trace stamps not only enhanced traceability but also signified the company’s dedication to upholding fiscal responsibilities within the country.

KTC being a leading publicly listed national company in the tobacco industry in Pakistan acknowledged the efforts of the FBR in its crackdown on illicit sectors. However, a lot more needs to be done to get rid of the cigarettes smuggling menace in Pakistan. The unchecked increase in smuggling does not only jeopardize the government revenue but also kills the national companies which are finding it hard to sustain in such an environment.

Copyright Business Recorder, 2024