Fake cigarettes cause Rs5.7 billion loss every year
- By Web Desk -
- Jan 18, 2024
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.