Not the real thing by zabir saeed badar
Not the real thing Smuggled and counterfeit cigarettes deprive the national exchequer of billions of rupees in revenue By Zabir Saeed Badar How does smuggling and counterfeiting affect our country? a layman may ask. When things are smuggled and counterfeited, government does not get revenue, ultimately the overall economy of the country is affected. The illegal trade of tobacco products, for instance, not only weakens a country’s ability to improve health of its populace but also takes away billions of dollars in tax revenue from national capital. According to news and data reports, during the fiscal year 2010-11, the total contribution of cigarette industry to national exchequer was recorded to be Rs.58.5 billion while it was Rs.55.9 billion in 2009-10. Total tax evasion by the cigarette industry has made the government bear the loss worth Rs 7 billion in 2011 till date, counterfeiting caused Rs1 billion loss while smuggling resulted in the loss of Rs 2.5 billion. S...