Unravelling cigarette tax revenue mystery

The first half of fiscal year 2025 has painted a perplexing picture of Pakistan’s cigarette industry. The latest data on cigarette production and tax collection in Pakistan reveals that production is soaring compared to the same period last year, yet tax revenues are mysteriously declining. To further complicate the narrative, a curious anomaly in December 2024 data adds another layer to the puzzle. Let’s dissect these two conundrums and see if we can make sense of the smoke and mirrors.