ISLAMABAD: The Pakistan Tobacco Company Limited (PTC) categorically clarified that the Federal Board of Revenue (FBR) Inland Revenue’s enforcement action against sale of cigarettes below minimum price has nothing to do with the operations of the PTC.
According to a clarification issued by the PTC, it has been reported regarding an enforcement raid at the premises of a leading manufacturer and seizure of a substantial quantity of cigarettes on alleged tax law violations and sale of cigarettes below minimum price.
The PTC would like to clarify that the reported news in multiple online and print publications does not pertain to its operations.
The company upholds the strongest governance standards and abides by the rules and regulations set by the government. The company appreciates and supports any enforcement action against widespread tax evasion, violations of tax laws and non-compliance with tobacco control laws in the tobacco sector, which has grown manifolds since unprecedented increase in Federal Excise Duty rates in February this year.
The company has reiterated its commitment to complete compliance of rules and regulations related to tobacco industry and highlight the need for strict enforcement against tax evasion and blatant violations of the Prohibition of Smoking & Protection of Non Smokers Ordinance 2002, enacted by the Ministry of National Health Services, Regulations and Coordination to provide level playing field to legally complaint industry players, the company added.
