ISLAMABAD
Pakistan Tobacco Company (PTC) contributed more than Rs.74 billion to government revenues on account of excise duty, sales tax, income tax and Customs duties during 2014.
The company also declared a net turnover of Rs.36.6 billion and a profit of Rs.4.8 billion with earnings per share of Rs.18.98. The tobacco industry is a major revenue spinner and contributed more than Rs.87 billion to the national kitty in FY 2013-2014. This fiscal year, the sectors revenue contribution is expected to be in the vicinity of Rs.100 billion.
The legitimate industry volume is under a lot of pressure due to prevalence of a high incidence of illegal cigarette trade. The incidence of illegal trade in cigarettes is said to stand at an alarming rate of around 25 per cent and is causing a per annum loss of over Rs.20 billion to the Government exchequer.