The expansion in the Illegal cigarettes market driven by recent tax hikes is causing a record Rs. 52 billion revenue loss to the Government, According to the ongoing research conducted by Research Intelligence Unit (RIUNIT),
The excise tax hikes of approximately 20%-98% on legal cigarettes which were implemented from the 1st of January this year( 2023) have been an ex-factor for the consumer shifts to illicit cigarettes.
The RIUNIT research revealed a 33 percent growth in illicit consumption in 2023 compared to 2022