Daily Times

Home | Archives | Company Financials | Contact Us |  Subscribe | Monday, May 20, 2013 

Main News
National
Islamabad
Karachi
Lahore
Foreign
Editorial
Sport
Entertainment
Advertise
 
Sunday Magazine
 
Boss
 
Wikkid
 
 
 
 
 
 
 
 
 
 
 
Used
Web
 


 
Sunday, May 20, 2012 E-Mail this article to a friend Printer Friendly Version
Share | |

Smuggled cigarettes continue to flood local markets

ISLAMABAD: Billions of Korea Tomorrow and Global’s (KT&G) Pine brand cigarettes have long been smuggled into Pakistan, most likely from the neighbouring Afghanistan, according to multiple sources. The amount of smuggled Pine cigarettes is so substantial that it prompted the Pakistani authorities to formally complain to the Korean government and KT&G last year and Pakistani embassy officially complained to Ministry of Strategy and Finance to investigate the matter. Korean leading cigarette manufacturing company KT&G has recently signed $0.467 billion tobacco deal with Alokozay, up from $0.449 billion in 2010, while about 5 billion Pine brand cigarettes have been imported annually into the war-torn Afghanistan by Alokozay, and a significant portion is suspected to have crossed the border into Pakistan. According to details, KT&G tobacco maker exports to 45 countries, including four countries in the Middle East - Afghanistan, the United Arab Emirates (UAE), Iraq and Iran - through the firm’s regional offices and UAE-based importer Alokozay International. KT&G does not have any official dealers or representative offices in Pakistan. staff report

Home | Business

Share | |
Second Degree-Awarding Ceremony 2012 of Iqra University
Punjab govt to raise wheat price by Rs 100/40kg for flourmills
Once online forever online: SECP
Economy in shambles due to govt’s ineptness: Qadeer Khan
Islamic banks advised to distribute profit
IDB, ADB ink $133m accord for wind power projects in Sindh
Budget proposals: Implementation of direct taxes urged to cut inflation
SAARC CCI demands balanced budget
Government released Rs 154.7bn under PSDP in last 11 mths
India violating Indus Water Treaty: Pakistan to face severe water shortage
Improving quality of fruits, vegetables: USAID, PFVA to join hands soon
Smuggled cigarettes continue to flood local markets
Cotton market faces bearish trend
ICCI urges for direct tax in upcoming budget
Lahore traders demand imposition of agri income tax
NBP leads in agriculture financing
China’s towering metal stockpiles cast economic shadow
KSE slumps 372 pts on unstable int’l economic conditions
Islamabad stocks lose 90 points
Yuan weakens as dollar gathers strength
Greenback appreciates against rupee
JGB yields skid, with 10-year hitting nearly 9-year low
Prices dip as investors pause safe-haven buying
Wall St week ahead: Market is oversold, but major signs say ‘sell’
Obama pledges tough enforcement of Wall St reforms
Australia shares slammed to 6-month low on Europe woes
Global markets week ahead: Eurozone policy action becoming critical
 
Daily Times - All Rights Reserved
Site developed and hosted by WorldCALL Internet Solutions


Used books in Pakistan   Web hosting in Pakistan