Latest news with #PTB
CTV News
28-05-2025
- Business
- CTV News
Uber now available B.C.-wide
Uber signage during a product unveiling event in New York, on May 14. Starting Wednesday, ride-hailing giant Uber is now available across British Columbia. The company launched service in 2020 for just Metro Vancouver, and its applications to the Passenger Transportation Board to operate in other regions were denied. After the PTB approved Uber's application for a licence transfer from another company in 2023, it began operating in Kelowna, Greater Victoria and the Fraser Valley. The licence transfer to Uber from Vancouver-based ReRyde, which had approval to operate outside the Lower Mainland but wasn't actively providing ride-hailing services, gave the American company permission to operate across B.C. Uber teased the expansion late last year, and it was made official on May 28. Now in theory, anyone from Port Renfrew to Fort Nelson can open the Uber app and request a ride, but there of course need to be signed-up drivers working in the area. To up its presence, the company is offering $500 bonuses to drivers who sign up in a newly covered city and take 10 trips in the first four weeks. With files from CTV News Vancouver's Ian Holliday
Business Recorder
21-05-2025
- Business
- Business Recorder
Tobacco exporters meet Jam Kamal
ISLAMABAD: A delegation of leading tobacco exporters met with Federal Minister for Commerce Jam Kamal Khan on Monday to discuss ways to enhance Pakistan's tobacco exports and address challenges related to tariffs and regulatory frameworks. During the meeting, exporters appreciated the government's ongoing efforts to promote trade and highlighted the significant contribution of the tobacco industry to employment, rural development, and export earnings. They shared that with targeted facilitation, tobacco exports have the potential to increase substantially, supporting national revenue goals. Exporters pointed out that the current tax structure, which includes a Federal Excise Duty (FED) of Rs390 per kg, Provincial Excise Duty (PED) of Rs50 per kg, Federal Tobacco Cess of Rs15.15 per kg, and a Provincial Development Cess of Rs25 per kg totals Rs480.15 per kg. They said this cost poses a challenge particularly for smaller exporters and suggested that a more competitive taxation model would help enhance Pakistan's position in the global tobacco market. The exporters emphasized that tobacco, like other agricultural commodities such as sugarcane, cotton, and citrus, should be supported through market-based policies. They noted that annual price adjustments are mandatory under current regulations, which can affect competitiveness in export destinations. Minister Jam Kamal Khan acknowledged the concerns raised and reiterated the government's commitment to balanced and growth-oriented policies. He remarked that optimal revenue generation comes not only from taxation but also from encouraging industry expansion and boosting exports. He noted that similar concerns have also been raised by other sectors, such as beverages, regarding the impact of high taxation on consumer demand and revenue collection. The exporters also called for the revival of the Pakistan Tobacco Board (PTB) to support coordinated efforts in export promotion and policy facilitation. In response, the Minister proposed the establishment of a Sectoral Council for Tobacco, similar to other existing sectoral councils, to provide a structured platform for industry dialogue and representation. Copyright Business Recorder, 2025
Business Recorder
20-05-2025
- Business
- Business Recorder
Pakistan's tobacco exporters urge competitive tax model, cite challenges for smaller firms
Pakistan tobacco exporters have warned that the current tax structure 'poses a challenge', especially for smaller players, and urged the government to adopt a more competitive taxation model. A delegation of leading tobacco exporters raised these concerns during a meeting with Federal Minister for Commerce Jam Kamal Khan on Monday, read a statement released by the commerce ministry on Tuesday. During the meeting, exporters pointed out that the current tax structure—which includes a Federal Excise Duty (FED) of Rs390 per kg, Provincial Excise Duty (PED) of Rs50 per kg, Federal Tobacco Cess of Rs15.15 per kg, and a Provincial Development Cess of Rs25 per kg—totals Rs480.15 per kg. 'They said this cost poses a challenge, particularly for smaller exporters and suggested that a more competitive taxation model would help enhance Pakistan's position in the global tobacco market,' read the statement. The exporters emphasised that tobacco, like other agricultural commodities such as sugarcane, cotton, and citrus, should be supported through market-based policies. They noted that annual price adjustments are mandatory under current regulations, which can affect competitiveness in export destinations. Kamal acknowledged the concerns and reiterated the government's commitment to balanced and growth-oriented policies. He remarked that optimal revenue generation comes not only from taxation but also from industrial expansion and boosting exports. Tobacco revenue can increase by bringing illicit trade into tax net Kamal noted that similar concerns have been raised by other sectors, such as beverages, regarding the impact of high taxation on consumer demand and revenue collection. The tobacco exporters also called for the revival of the Pakistan Tobacco Board (PTB) to support coordinated efforts in export promotion and policy facilitation. In response, Kamal proposed the establishment of a Sectoral Council for Tobacco, similar to other existing sectoral councils, to provide a structured platform for industry dialogue and representation. The minister further informed the delegation that a revenue policy committee has been made independent of the revenue collection mechanism—an important step toward more informed and consultative policymaking. Meanwhile, exporters appreciated the government's ongoing efforts to promote trade and highlighted the significant contribution of the tobacco industry to employment, rural development, and export earnings. They shared that with targeted facilitation, tobacco exports have the potential to increase substantially, supporting national revenue goals. Exporters appreciated Kamal and expressed confidence that with continued government support, the industry could significantly increase its export footprint, read the statement. Pakistan's tobacco exports reached $158.35 million in the current fiscal year (July–April), with promising growth in markets such as Belgium, UAE, Greece, and the Philippines.
Express Tribune
04-02-2025
- Business
- Express Tribune
PTB dissolution may hurt tobacco industry
Listen to article LAHORE: The federal government's decision to dissolve the Pakistan Tobacco Board (PTB) and hand over the regulatory authority to provincial governments has sparked controversy, which may have severe economic, social and regulatory consequences. "The PTB has played a pivotal role in regulating tobacco production and the industry under a centralised system that benefits all stakeholders, including farmers and the legal tobacco sector," remarked Osama Siddiqui, a macroeconomic expert. He added that the dismantling of the system could lead to a surge in illegal tobacco cultivation and sales, which would undermine the legal industry. One of the PTB's critical contributions has been ensuring fair prices for tobacco farmers, especially in Khyber-Pakhtunkhwa (K-P), where the majority of Pakistan's tobacco is produced. By maintaining a balance between supply and demand, the PTB has safeguarded farmers' interests, providing them with a stable income. The expert fears that provincial governments lack the capacity to manage this responsibility effectively. Without the PTB's oversight, the farmers could face financial hardships due to falling prices and market instability. A decline in tobacco production will deprive the farmers of their livelihoods and leave them vulnerable to exploitation. The PTB's centralised regulation has also fueled growth in tobacco exports, which increased from $42 million in 2019-20 to $108 million by the end of 2024. Additionally, legal tobacco sales have made a substantial contribution to the national treasury by generating Rs237 billion in revenue in FY25 through the federal excise duty and sales tax.
