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.

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Today's currency exchange rates in Pakistan - Dollar, Euro, Pound, Riyal rates on Sept 30, 2023

KARACHI - Following are the foreign currency exchange rates for US Dollar, Saudi Riyal, UK Pound Sterling, U.A.E. Dirham, European Euro, and other foreign currencies in Pakistan open market on September 30, 2023 (Saturday).

Source: Forex Association of Pakistan. (last update 09:00 AM)

Currency Symbol Buying Selling
US Dollar ‎USD 286.05 289.15
Euro EUR 307 310
UK Pound Sterling GBP 353.3 357
U.A.E Dirham AED 80 80.8
Saudi Riyal SAR 76 76.75
Australian Dollar AUD 189 191
Bahrain Dinar BHD 778.84 786.84
Canadian Dollar CAD 220 222.2
China Yuan CNY 40.24 40.64
Danish Krone DKK 41.83 42.23
Hong Kong Dollar HKD 37.93 38.28
Indian Rupee INR 3.57 3.68
Japanese Yen JPY 1.63 1.71
Kuwaiti Dinar KWD 945.27 954.27
Malaysian Ringgit MYR 62.62 63.22
New Zealand Dollar NZD 174.58 176.58
Norwegians Krone NOK 27.87 28.17
Omani Riyal OMR 762.31 770.31
Qatari Riyal ‎QAR 80.69 81.39
Singapore Dollar SGD 208 210
Swedish Korona SEK 26.62 26.92
Swiss Franc CHF 323.01 325.51
Thai Bhat THB 8.12 8.27

Gold Rate in Pakistan Today – September 30, 2023

Today Gold Rate in Pakistan

KARACHI - The price of a single tola of 24-karat gold in Pakistan is Rs 205,600 on Saturday.

The price of 10 grams of 24k gold was recorded at Rs 176,270. Likewise, 10 grams of 22k gold were being traded for Rs168,730 while a single tola of 22-karat gold was being sold at Rs196,807.

Note: The gold rate in Pakistan is fluctuating according to the international market so the price is never been fixed. The below rates are provided by local gold markets and Sarafa Markets of different cities.

Today Gold Price in Pakistan - 30 September 2023

City Gold Silver
Lahore PKR 205,600 PKR 2,450
Karachi PKR 205,600 PKR 2,450
Islamabad PKR 205,600 PKR 2,450
Peshawar PKR 205,600 PKR 2,450
Quetta PKR 205,600 PKR 2,450
Sialkot PKR 205,600 PKR 2,450
Attock PKR 205,600 PKR 2,450
Gujranwala PKR 205,600 PKR 2,450
Jehlum PKR 205,600 PKR 2,450
Multan PKR 205,600 PKR 2,450
Bahawalpur PKR 205,600 PKR 2,450
Gujrat PKR 205,600 PKR 2,450
Nawabshah PKR 205,600 PKR 2,450
Chakwal PKR 205,600 PKR 2,450
Hyderabad PKR 205,600 PKR 2,450
Nowshehra PKR 205,600 PKR 2,450
Sargodha PKR 205,600 PKR 2,450
Faisalabad PKR 205,600 PKR 2,450
Mirpur PKR 205,600 PKR 2,450


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