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Empowering small shopkeepers: the benefits of high tobacco taxes in Pakistan

01:18 AM | 7 Jun, 2023
Empowering small shopkeepers: the benefits of high tobacco taxes in Pakistan

LAHORE - Small shopkeepers play a vital role in the local economy, serving as a cornerstone of their communities in Pakistan. However, these shopkeepers often face numerous challenges, including competition from larger retail chains and economic uncertainties.

Implementing high taxes on tobacco products can bring significant advantages to small shopkeepers across Pakistan, ultimately leading to a more prosperous future for them and their communities.

One of the primary benefits of imposing high taxes on tobacco is the potential to generate substantial revenue for the government. These additional funds can be allocated towards various development initiatives, including programs that directly support small shopkeepers. By investing in infrastructure, training, and market access opportunities, the government can empower small shopkeepers to expand their businesses, diversify their product offerings, and improve their overall profitability.

Reducing Competition from Illicit Trade: The imposition of high taxes on tobacco can effectively deter the illicit trade of tobacco products, which often undermines the sales of legitimate retailers, particularly small shopkeepers. Illicit trade not only deprives the government of tax revenue but also creates an uneven playing field for small businesses. By curbing the availability of cheap, illicit tobacco products, high taxes can help level the playing field, allowing small shopkeepers to compete fairly and sustain their businesses.

High tobacco taxes can also encourage consumers to explore healthier alternatives, such as non-tobacco products or smoking cessation aids. By incentivizing individuals to quit or reduce their tobacco consumption, small shopkeepers can seize new opportunities to offer alternative products and services that cater to changing consumer preferences.

Small shopkeepers are integral members of their communities, and their success often mirrors the overall well-being of the neighbourhoods they serve. High tobacco taxes can contribute to a healthier society by discouraging tobacco consumption, thus reducing the incidence of smoking-related illnesses. As community members become more conscious of their health, small shopkeepers can respond by diversifying their offerings to include a wider range of products aligned with healthier lifestyles, fostering a positive impact on the overall well-being of the community.

To ensure the success of small shopkeepers amidst the implementation of high tobacco taxes, the government should provide adequate support and assistance. This could include targeted financial assistance programs, training initiatives, and marketing support to help small shopkeepers adapt to changing consumer demands and capitalize on emerging opportunities in the market.

By investing in the development and growth of small businesses, the government can empower shopkeepers to thrive in a tobacco-tax-driven environment.

Implementing high taxes on tobacco products in Pakistan can bring numerous benefits to small shopkeepers, ultimately fostering their economic prosperity and supporting the well-being of their communities. By generating revenue, reducing illicit trade, promoting healthier alternatives, and encouraging social responsibility, small shopkeepers can seize new opportunities for growth and sustainability.

It is essential for the government to recognize the importance of small businesses and provide the necessary support and assistance to help them navigate these changes successfully. Through collaboration and collective efforts, we can create an environment where small shopkeepers not only survive but thrive in a prosperous Pakistan.

Daily Pakistan Global Web Desk

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Pakistani rupee rate against US Dollar, Euro, Pound, Riyal - Check 14 April forex rates

Pakistani currency remains unchanged against US dollar and other currencies in open market on April 14, 2024.

US Dollar rate in Pakistan

On Sunday, the US dollar was being quoted at 277.5 for buying and 280.5 for selling.

Euro was quoted at 299.95 for buying and 302.9 for selling while British Pound stands at 349.5 for buying, and 353 for selling.

UAE Dirham AED was at 75.45 and Saudi Riyal's new rates was at 73.30. 

Today’s currency exchange rates in Pakistan - 14 April 2024

Source: Forex Association of Pakistan. (last update 08:00 AM)
Currency Symbol Buying Selling
US Dollar USD 277.5 280.5
Euro EUR 299.95 302.9
UK Pound Sterling GBP 349.5 353
U.A.E Dirham AED 75.45
 
76.2
Saudi Riyal SAR 73.3 74.05
Australian Dollar AUD 182.7 184.5
Bahrain Dinar BHD 739.38 747.38
Canadian Dollar CAD 204 206.2
China Yuan CNY 38.45 38.85
Danish Krone DKK 40.45 40.85
Hong Kong Dollar HKD 35.57 35.92
Indian Rupee INR 3.33 3.44
Japanese Yen JPY 1.86
 
1.94
Kuwaiti Dinar KWD 903.91 912.91
Malaysian Ringgit MYR 58.92 59.52
New Zealand Dollar NZD 167.63 169.63
Norwegians Krone NOK 25.38 25.68
Omani Riyal OMR 722.1 730.1
Qatari Riyal QAR 76.35 77.05
Singapore Dollar SGD 206 208
Swedish Korona SEK 25.72 26.02
Swiss Franc CHF 307.11 309.61
Thai Bhat THB 7.61 7.76

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