ISLAMABAD  -  Fair Trade in Tobacco (FTT) on Saturday praised the government’s recent initiative to crack down on tax evaders, emphasizing the critical need for enforcement in all sectors. 

However, FTT expressed concern over the omission of the tobacco industry from the government’s efforts despite the sector being responsible for over Rs300 billion in annual tax evasion, said a news release.

The FTT urged the Federal Board of Revenue (FBR) to implement the Track and Trace System (TTS) across all tobacco manufacturers, particularly targeting illicit operators in Khyber Pakhtunkhwa.

Meanwhile, FTT Chairman Muhammad Amin urged the government to prioritize this issue, highlighting that the tobacco sector could generate over Rs500 billion in taxes annually if adequately regulated. 

The FTT, a leading platform representing responsible tobacco growers across Punjab, lauded the recent government initiative to tackle tax evasion in several key sectors. 

FBR has identified a staggering Rs3,400 billion in sales tax fraud across significant industries such as textiles, cement, iron, steel, beverages, and batteries, he added.

He welcomed this bold move, recognizing it as a critical step towards strengthening Pakistan’s fiscal stability.  He reiterated FTT’s support for any policy promoting transparency and accountability across industries.

“We commend the government for finally cracking down on major tax evaders who have been bleeding the national exchequer dry. The steps announced by Finance Minister Muhammad Aurangzeb are the need of the hour, and we fully support efforts to bring tax evasion to a halt,” said Muhammad Amin.