Islamabad: In a press release, PTC spoke out about the multiple online and print publications 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. Pakistan Tobacco Company Limited (PTC) clarified that this news did not pertain to their operations.
The Company upholds the strongest governance standards and abides by the rules and regulations set by the Government of Pakistan.
They appreciated and supported 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 unprecedent increase in Federal Excise Duty rates in February this year.
The Company reiterated their 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.
