KTC has raised concerns over the recent decline in its cigarette sales, attributing it to a sharp rise in the smuggling of international cigarette brands in Pakistan. This surge in illicit trade poses a significant threat to the company’s operations and the local market.
The tobacco manufacturing entity emphasised the importance of continued vigilance and collaborative efforts among policymakers and enforcement agencies to effectively combat cigarette smuggling. Addressing this issue is crucial for safeguarding the interests of legitimate businesses like KTC and protecting consumers from potentially harmful counterfeit products.
Despite challenging circumstances, KTC remains steadfast in its commitment to providing quality products to its customers while complying with local fiscal regulations. The company’s dedication to upholding standards and contributing to the local economy underscores its resilience in adversity.
Khyber Tobacco Company Limited (KTC) was the first tobacco manufacturing company to implement track and trace tax stamps on its products. It is committed to complying with all applicable health and fiscal regulations and contributing to community development through our robust CSR program.
In a statement, the company said that implementing the track and trace stamps enhanced traceability and 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 Federal Board of Revenue in its crackdown on illicit sectors. However, a lot more needs to be done to get rid of the cigarette smuggling menace in Pakistan. The unchecked increase in smuggling jeopardises government revenue and kills the national companies that are finding it hard to sustain themselves in such an environment.
Furthermore, KTC takes pride in its progressive stance as the first-ever tobacco company in Pakistan to be led by a woman CEO. This milestone underscores the company’s commitment to diversity and inclusivity in its leadership ranks.
