KTC implements track and trace tax stamps, calls for measures to get rid of cigarettes smuggling

KTC implements track and trace tax stamps, calls for measures to get rid of cigarettes smuggling

ISLAMABAD, MAY 3 (DNA): Khyber Tobacco Company (KTC) Limited becomes the first tobacco manufacturing company to implement track and trace tax stamps on its products and was committed to be truly compliant to all applicable health and fiscal regulations and to contribute to community development through our robust CSR program.

The KTC in a statement issued on Friday said 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.

Being a leading publicly listed national company in the tobacco industry in Pakistan, the KTC acknowledged the efforts of the Federal Board of Revenue (FBR) in its crackdown on illicit sectors. However, it called for more measures to get rid of the menace of cigarettes smuggling 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.

The KTC urged policy makers to address the recent decline in its cigarette sales witnessed over the last year which is a direct result of the exponential increase in the smuggling of cigarettes of international brands openly available in Pakistan.

The company emphasized the need for continued vigilance and collaborative efforts to eradicate the menace of smuggled cigarettes from Pakistan’s markets.

Despite facing challenging circumstances, KTC remains committed to its mission of providing quality products to its customers while adhering to local fiscal regulations.

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.