Fake cigarettes are causing an annual loss of approximately Rs. 5.7 billion due to tax evasion, as reported by ARY News. The market is flooded with counterfeit or non-duty paid cigarettes, with over 42.5 million bearing fake tax stamps. Strict implementation of track and trace systems is being demanded by industry sources. FBR recently seized over 307,000 non-duty paid cigarettes in Karachi.
ISLAMABAD: Approximately Rs. 5.7 billion are lost every year as fake cigarettes are being sold, evading duties and taxes, ARY News reported citing cigarette industry sources
The sources said that a large quantity of fake or non-duty paid cigarettes are still being sold in the market as they possess fake tax stamp the packets.
More than 42.5 million counterfeit tax stamp cigarettes are in the market. Currently, only two cigarette companies are fully implementing the track and trace systems.
The industry sources demanded that all cigarette manufacturing companies should strictly implement track and trace systems.
Read More: FBR seizes non-duty paid cigarettes in Karachi
Earlier on Monday, the Federal Board of Revenue (FBR) seized over 307,000 non-duty paid cigarettes during various raids in Karachi.
According to FBR spokesperson, as many as 38 teams of FBR raided different markets and shops in Saddar, Jamsheed Town, Liaquatabad, Baldia and SITE during an ongoing action against non-paid cigarettes.
Non-duty-paid cigarettes were recovered in huge quantities.
The proliferation of fake cigarettes in the market has far-reaching consequences, with a staggering annual loss of Rs. 5.7 billion. This illicit trade not only poses a significant threat to public health and safety, but it also exacts a heavy economic toll. The prevalence of counterfeit cigarettes not only undermines the efforts to regulate the industry, but it also jeopardizes the livelihoods of legitimate businesses and fosters an environment of criminal activity. As responsible consumers, it is imperative to be vigilant and support initiatives aimed at combating the widespread distribution of counterfeit tobacco products. By raising awareness and advocating for stringent enforcement measures, we can work towards mitigating the detrimental impact of fake cigarettes on both our economy and society at large.
Source: ARY NEWS
Summary:
Fake cigarettes in Pakistan result in an annual loss of Rs. 5.7 billion due to tax evasion. The market is flooded with non-duty paid cigarettes carrying fake tax stamps, with over 42.5 million counterfeit tax stamp cigarettes in circulation. Only two cigarette companies are fully implementing track and trace systems, prompting industry sources to demand stricter implementation across all manufacturers. The Federal Board of Revenue (FBR) recently seized a significant quantity of non-duty paid cigarettes in Karachi during raids in various areas, underscoring the prevalence of this issue.
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