PTC to Launch BAT Velo in Japan, to Bring in $100 Million Annual Foreign Exchange Earnings

Business by 2FIRSTS.ai
May.28.2024
PTC to Launch BAT Velo in Japan, to Bring in $100 Million Annual Foreign Exchange Earnings
Pakistan Tobacco Company Limited (PTC) announced the launch of "Pakistan Manufacture 3.0" plan, aiming to boost global market influence.

According to a report from Business Record in 2024, Pakistan Tobacco Company Limited (PTC) announced on May 27 the launch of its "Pakistan Manufacturing 3.0" plan. It is reported that Pakistan Tobacco Company Limited is a subsidiary of British American Tobacco (BAT) and the first multinational company in Pakistan. Over the past five years, PTC has contributed over 680 billion Pakistani Rupees (approximately $8.1 billion) to the national treasury.

 

PTC to Launch BAT Velo in Japan, to Bring in $100 Million Annual Foreign Exchange Earnings

 

This project will see PTC's modern smokeless nicotine pouch (Velo) products exported to Japan, expanding Pakistan's influence in the global market and expected to bring in annual foreign exchange earnings of up to $100 million. Jam Kamal Khan, the Federal Minister of Commerce, attended the press conference, with invited guests from both public and private sectors.

 

In April 2019, PTC launched its "Made in Pakistan" initiative, with a focus on exporting cigarettes and tobacco to various countries. Currently, this initiative has generated over $157 million in revenue for the Pakistani economy.

 

Building on this successful foundation, the "Pakistan Made 3.0 Plan" aims to further enhance Pakistan's economic status. The introduction of nicotine pouches to the Japanese market is expected to generate an additional $50 million in revenue annually by increasing foreign exchange earnings.

 

Michael Dijanosic, the Asia Pacific, Middle East, and Africa Director for BAT Group, stated, "We are proud that PTC can export modern oral nicotine pouches to important markets such as Japan. This achievement highlights our strong partnership and marks a significant step forward for both BAT and Pakistan.

 

The CEO and General Manager of PTC, Ali Akbar, stated, "We are pleased to expand the impact of Velo and further drive economic development in Pakistan.

 

Notice

1. This article is provided exclusively for professional research purposes related to industry, technology and policy. Any reference to brands or products is made solely for the purpose of objective description and does not constitute an endorsement, recommendation, or promotion of any brand or product.

2. The use of nicotine products, including but not limited to cigarettes, e-cigarettes, and heated tobacco products, is associated with significant health risks. Users are required to comply with all relevant laws and regulations in their respective jurisdictions.

3. This article is strictly restricted from being accessed or viewed by individuals under the legal age.

Copyright

This article is either an original work by 2Firsts or a reproduction from third-party sources with the original source clearly indicated. The copyright and usage rights of this article belong to 2Firsts or the original source. Unauthorized reproduction, distribution, or any other unauthorized use of this article by any entity or individual is strictly prohibited. Violators will be held legally responsible. For copyright-related matters, please contact: info@2firsts.com

AI Assistance Disclaimer

This article may have utilized AI to enhance translation and editing efficiency. However, due to technical limitations, errors may occur. Readers are advised to refer to the sources provided for more accurate information.

This article should not be used as a basis for any investment decisions or advice, and 2Firsts assumes no direct or indirect liability for any errors in the content.