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Wednesday July 24, 2024

SPARC launches event for policy brief on cigarette taxation

By APP
June 08, 2023

Islamabad:The Society for the Protection of the Rights of the Child (SPARC) on Wednesday organised a launching event for the policy brief ‘Facts vs Industry Narrative: Cigarette Production and Taxation in Pakistan’, published by Social Policy and Development Centre (SPDC).

Principal Economist of SPDC Muhammad Sabir on the occasion said, “There are three listed companies which are the country’s major cigarette producers, accounting for more than 90% of total cigarette production in Pakistan.”

These include Pakistan Tobacco Company (PTC), Phillip Morris Pakistan (PMPK), and Khyber Tobacco Company. Analysis of the financial statements of these companies reveals that the net turnover and gross profit of the companies altogether increased from Rs72 billion during Jul 2021 Mar 2022 to Rs94 billion during Jul 2022 Mar 2023.