The Government of Pakistan has bestowed the Pakistan Tobacco Company Limited (PTC) with an esteemed honor for its remarkable contribution as one of the country’s highest taxpaying entities.
This recognition highlights PTC’s unwavering commitment to corporate responsibility and its pivotal role in bolstering economic growth in Pakistan, as stated in a news release on Tuesday.
Being one of the foremost multinational corporations operating in Pakistan, PTC has consistently prioritized compliance and integrity in meeting its tax obligations. In the fiscal year 2023 alone, PTC made a substantial contribution of over Rs 229 billion to the national exchequer through various taxes and duties, demonstrating its significant financial commitment to the country’s development.
Moreover, PTC has actively engaged in furthering Pakistan’s development goals, as evidenced by its commendable performance in exports, which exceeded $48 million in 2023. This substantial contribution to the export sector not only strengthens Pakistan’s position in the global market but also contributes to the nation’s economic prosperity.
PTC’s commitment to corporate social responsibility is further underscored by its substantial investments in environmental, social, and governance initiatives. By prioritizing sustainability and community development, PTC aims to create a positive impact and contribute to shaping a better future for Pakistan.
The Government of Pakistan’s acknowledgment of PTC as one of the highest taxpayers in the country serves as a testament to the company’s steadfast dedication to upholding the highest standards of corporate citizenship. PTC’s adherence to ethical business practices, along with its significant financial contributions and active participation in national development efforts, has earned it this prestigious recognition.
Furthermore, this acknowledgment reinforces the importance of responsible corporate citizenship and sets a benchmark for other companies to follow suit. By recognizing and rewarding entities like PTC, the government aims to encourage a culture of transparency, accountability, and responsible business conduct across all sectors of the economy.
In light of this recognition, PTC remains committed to continuing its efforts towards sustainable growth, ethical business practices, and making meaningful contributions to the socio-economic development of Pakistan. As a leading corporate citizen, PTC stands poised to play a vital role in driving progress and prosperity for the nation in the years to come.
