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PAKISTAN

Tobacco exports increase by 137%

14 Sep 2020. The withdrawal of the advance tax on tobacco has helped Pakistan increase exports of tobacco by 137.53 per cent during the first month of ongoing financial year 2020-21 as compared to the exports of corresponding period of last year, Profit by Pakistan Today reported.

The Pakistan Tobacco Growers Association has assured the Speaker of the National Assembly, Asad Qaiser, that the withdrawal of the advance tax would help the country to create more jobs in the industry and increase exports. Qaiser has taken up the issue of the advance tax with the Federal Board of Revenue on demand of the tobacco growers before the budget, the report said. The Speaker helped the farmers to achieve the abolition of the advance tax of PKR 500 (USD 3) per kilogram on the crop.

Data from Pakistan Bureau of Statistics office show that the country's tobacco exports amounted to USD 2.171 million in July 2020, compared to USD 0.914 million in July 2019, representing a growth rate of 137.53 per cent. In terms of volume, tobacco exports also increased by 151.87 per cent increasing from 268 tonnes to 675 tonnes, the report said.