ISLAMABAD   -   Ipsos, a globally recognised market research and consulting firm based in France, has unequivocally declared its detachment from the report in question, affirming it neither authored nor conducted any research related to the “Pakistan Cigarette Market Assessment 2024”. Furthermore, Ipsos has absolved itself from any involvement in the allegations against Khyber Tobacco Company Limited (KTC).

Responding to the recent defamatory allegations disseminated in the report, KTC, a leading cigarette manufacturing company in Pakistan, issued a follow-up statement. KTC has received an official response to its legal notice from Ipsos, reaffirming Ipsos’s disassociation from the report and the allegations against KTC. In addition, ASB Associates, purportedly linked to the report’s issuance, has formally distanced itself from Ipsos Pakistan and any associated activities.

These responses unequivocally indicate that the defamatory report was part of a malicious smear campaign aimed at tarnishing KTC’s reputation and undermining its business interests. The report, replete with baseless allegations and unsubstantiated claims, was designed to mislead the public and stakeholders about KTC’s business practices and regulatory compliance. Both Ipsos’s clarifications and ASB Associates’ subsequent distancing from Ipsos underscore the fraudulent nature of the report and the entities behind it. The disavowal from Ipsos invalidates any association of the report with credible market research standards, while ASB Associates’ formal disassociation further exposes its deceitful nature.

Moreover, the timing and manner of the report’s dissemination highlight its malicious intent to damage KTC’s reputation and disrupt its business operations. However, KTC’s longstanding commitment to transparency, regulatory compliance, and ethical business practices contrasts starkly with the falsehoods propagated in the report. As a publicly listed company with audited financial statements available for public scrutiny, KTC has consistently demonstrated its dedication to maintaining the highest standards of integrity.

The proactive cooperation with regulatory authorities, including the Federal Board of Revenue (FBR), and the role as Pakistan’s foremost tobacco exporter underscore KTC’s contributions to the national exchequer and the economy at large.

In light of these developments, KTC reaffirms its stance that the defamatory report was part of a deliberate attempt to harm the company. The corroborative disavowals from Ipsos and ASB Associates vindicate KTC’s position and highlight the deceitful nature of the smear campaign. KTC urges the public and stakeholders to dismiss the unsubstantiated allegations and to continue their support and trust as the company remains steadfast in its commitment to excellence and compliance in all facets of its operations.