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ISLAMABAD: The Federal Board of Revenue (FBR) data revealed that the Khyber Tobacco Company Limited (KTCL) is the largest tax contributing company from the Khyber Pakhtunkhwa (KP) province and is the only national cigarette manufacturer to implement electronic ‘Track and Trace’ system.

The FBR has been regulatory monitoring collection of sales tax and federal excise duty (FED) from this national company which has fully implemented the track and trace system.

The company’s data available with the Pakistan Stock Exchange (PSX) disclosed that during 2022-23, the company has targeted to bring in millions of dollars to add to Pakistan’s foreign exchange earnings and is set to achieve just under US$$100 million of orders.

In June 2022, KTCL became the first company to implement this track and trace system. To date only three companies have implemented the system, one of them being KTCL. Many other companies continue to be reluctant and using the courts to challenge its implementation for one reason or the other.

Industry sources informed that Samera Irfan is one of those individuals, who have embarked upon a journey of numerous successes and has become the “first ever” CEO of a listed cigarette manufacturing company of Pakistan.

The Board of Directors appointed her as the first woman CEO of a cigarette company in Pakistan. Since then, she has put KTCL on a growth trajectory and the company has grown phenomenally while the company’s CAGR based on revenue is 19.13% for the past 5 years. KTC is Pakistan’s only national cigarette manufacturer which is listed on Pakistan Stock Exchange (PSX) and is the only such company which is not majority owned by foreign entities.

Ms. Samera is known for writing to the Prime Minister of Pakistan in 2021 to support the track & trace system. She publicly supported this initiative whilst many other competitors were shying away from its implementation.

She has been instrumental in obtaining export orders for her company. This year she received a top exporter award in the tobacco sector from the President of Pakistan. KTCL has continually outshined its competitors in tobacco exports.

In recent months, KTCL stock has outperformed many stocks on Pakistan Stock Exchange.

Copyright Business Recorder, 2023

Comments

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Muhammad Kashif Jan 02, 2023 12:15pm
Q: Why the sugar and floor industries are out of Track & Trace System while the Khyber Tobacco Company Ltd. is fully track & trace system compliant? Ans: Khyber Tobacco Company Ltd. is working without cartelization, therefore it is under full-fledged track & trace system. On the other hand, the sugar and floor associations are working under the strongest cartelization, therefore the tax authorities are still FAILED to make the sugar and floor industries track & trace system compliant.
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Ahmad ali Jan 03, 2023 03:45pm
Why Khyber tobacco company are obtaining debt from banks, it's book value is good and hand in cash is good, why, you are not working from debt free company khtc from banks and it's directors
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Ahmad ali Jan 03, 2023 03:49pm
Khyber tobacco company should increase its shares, give right shares in large quantity, debt free company from its directors and banks
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Ali Jan 09, 2023 05:52am
Excellent performance, keep up the good work. Shame on all those cartels who evade the rules for profiteering.
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