PESHAWAR: A recent report by a private organisation has said that tobacco-induced sickness places an annual economic cost of Rs615 billion, or 1.6% of Pakistan’s GDP, on the country.
According to the survey of Capital Calling, a network of academics and professionals, the tobacco sector is one of the main taxpayers, but it generates Rs120 billion in income. It states that a sector of the economy that is seriously harming people’s health and finances shouldn’t claim that taxes are to blame and be ‘burdened’ instead.
It exhorts the government to stay consistent in its decision to raise taxes on tobacco products because the current tobacco tariffs have the potential to bring in an additional Rs60 billion.It claimed that the tobacco industry’s lethal goods were stealing the wealth of the populace and that, on average, Pakistani smokers spent 10% of their monthly income on cigarettes.
Because of this, low-income people and children will no longer be able to afford cigarettes, protecting them from their harmful effects.According to the report, the government’s first goal should be protecting the people’s health. “If cigarettes are bad for your health, the government should restrict public access to them, especially for kids and teenagers,” it added.
It called on the government to stick by its plan to increase the Federal Excise Duty on cigarettes. It claimed that the tax rise would go a long way towards alleviating Pakistan’s financial woes.