Major tobacco firm initiates shutdowns as smuggled, illicit cigarettes flood market
PTC fears that exponential increase in illicit cigarettes may lead to business shutdown
How a rift in Pakistan’s tobacco industry determines how cigarettes are taxed and not the government
Local and multinational tobacco companies engage in brutal lobbying and media wars to try and tax each other out of business and influence.
Philip Morris shifts entire capacity of its cigarette factory to smoke-free products
KARACHI: Philip Morris International (PMI) announced that the factory of its Greek affiliate Papastratos in Aspropyrgos, has ceased cigarette production and is...
Pakistan Tobacco Company’s profit increases 7.95pc to 7.6bn in six months
LAHORE: Pakistan Tobacco Company Limited (PAKT) on Friday released its financial results for the half year ended June 30, 2020 announcing that...
Pakistan Tobacco Company announces Rs2.9 billion Q2 profit
LAHORE:Â Pakistan Tobacco Company (PTC), in a notification issued to the Pakistan Stock Exchange (PSX) on Tuesday, released its financial results for the...
Pakistan’s tobacco exports surge 137pc YoY in July
ISLAMABAD: Pakistan’s tobacco exports have increased by 137.53 per cent to $2.171 million in July, the first month of fiscal year (FY)...
Senate panel to take up declining tobacco revenues in meeting today
ISLAMABAD: The Senate Special Committee on the causes of declining tax revenues from the tobacco sector is scheduled to be held today...
Pakistan’s Auditor General initiates special audit of MNCs in tobacco sector
Pakistan’s Auditor General has started a forensic audit of multi-national companies (MNCs) of tobacco sector and sought necessary record from MNCs to conclude the audit within 15 days in light of Public Accounts Committee’s (PAC) directions, it has been learnt.
Additional revenue measures of up to Rs150 billion expected in upcoming mini-budget: Report
The brokerage house said the hike in interest rate by 425 basis points and rupee devaluation of 24% since December 2017 have cumulatively increased annual debt servicing requirement of government by Rs700-800 billion
Cigarette manufacturers fail to comply with health ministry’s directives
A recently conducted market survey has identified that a majority of the brands of local cigarette manufacturers in Pakistan are still non-compliant with the latest Pictorial Health Warning (PHW) law
Philip Morris to only produce smoke-free products in its factory in Greece
Philip Morris International Inc (PMI) announced that the factory of its Greek affiliate (Papastratos) in Aspropyrgos, has ceased cigarette production and is...
Health ministry launches crackdown against violators of PHW on cigarette packs
ISLAMABAD: Taking a strong exception to the availability of cigarette packets with no Pictorial Health Warning (PHW) or having PHW less than...
Revenue from cigarette industry surges by Rs88.54bn in 2017-18
KARACHI: On a report of the Public Accounts Committee (PAC) submitted on May 23, the National Accountability Bureau (NAB) has initiated an investigation...
PAC summons FBR chairman over reduction in tax collection from tobacco sector
ISLAMABAD:Â The Federal Board of Revenue (FBR) has retained the third slab of federal excise duty (FED) on cigarette prices and sat aside...
NAB asks FBR for assistance in investigation against declining revenues from tobacco sector
ISLAMABAD: The National Accountability Bureau (NAB) has asked the Federal Board of Revenue (FBR) to appoint a focal person for assistance in...