KTC Responds to False Accusations in Market Report

KTC, a well-known cigarette manufacturer in Pakistan, has issued a strong response to false accusations made against the company in a recent report titled 'Pakistan Cigarette Market Assessment 2024'. The report wrongly implicated KTC in unethical business practices and regulatory non-compliance.

The situation escalated when Ipsos, a reputable global market research firm based in France, clarified that they had no involvement in creating or researching the report. They explicitly stated that the report was not authored by them and that the allegations against KTC were baseless.

Additionally, ASB Associates, a company allegedly linked to the report, distanced itself from Ipsos Pakistan and any activities related to the report. This distancing further discredited the report, revealing it as a malicious attempt to damage KTC's reputation.

The report's lack of credible evidence and the timing of its release suggest a deliberate effort to harm KTC's reputation. However, KTC, as a transparent and compliant publicly listed company, has consistently maintained high standards of integrity.

KTC's proactive engagement with regulatory authorities, such as the Federal Board of Revenue (FBR), and its significant contributions to Pakistan's economy as a leading tobacco exporter showcase its commitment to ethical business practices.

In light of these developments, KTC emphasizes that the defamatory report was part of a targeted smear campaign against the company. The clarifications from Ipsos and ASB Associates support KTC's stance and expose the deceptive nature of the allegations. KTC urges the public and stakeholders to ignore the unfounded claims and continue supporting the company's dedication to excellence and compliance.