After PTC, Philip Morris also shows concerns over smuggling, sale of illicit cigarettesÂ
ISLAMABAD: The Pakistani tobacco industry is facing major challenges as the sale of illicit cigarettes has spiked following a massive increase in...
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...
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.
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...
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...
Major tobacco firm initiates shutdowns as smuggled, illicit cigarettes flood market
PTC fears that exponential increase in illicit cigarettes may lead to business shutdown
FBR turned down health ministry’s proposal to increase cigarettes prices
ISLAMABAD: The Federal Board of Revenue (FBR) straightaway rejected the Ministry of National Health Regulation Authority’s proposal’ to soar the cigarettes price...
NAB to expand investigation into Rs60 billion tax evasion by cigarette industry
The Auditor General of Pakistan (AGP) office said the cigarette industry was involved in tax evasion to the tune of Rs33 billion
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)...
Legit manufacturers demand govt to restrict sale of illicit cigarettes
Most of these illicit cigarettes having approximately 35% market share are produced in Azad Kashmir and Khyber-Pakhtunkhwa claimed the stakeholders
Senate body demands report from FBR over tobacco revenue shortfall
ISLAMABAD: A special committee of the Senate on the decline in tax collection from the tobacco industry has sought a report in...
PTC cautions its sales will be impacted, if govt restores two-tier tax system
According to the formal sector, the creation of the third-tier helped to dent illicit cigarette trade from 41.2 percent to 33.3 percent in a span of one year
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...
Legal cigarette sales decline 7.4% in 2017: Oxford Economics
According to the report, actual government revenues were estimated to have increased by 8.3 per cent in fiscal year 2017/18, underpinned by an acceleration in legal domestic sales, which rose by an estimated 73.9% over the same period
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