According to a report from “Profit Pakistan Today”, Philip Morris Limited (PMPKL) announced a pre-tax operating loss of Rs 2.44 billion for the year ended December 31, 2020, and plans to introduce cigarette substitutes in Pakistan.
Roman Yazbeck, managing director of PMPKL, said in a conversation with a group of reporters on Friday: “The company’s new product has been approved by the US market, and if the government permits and enacts the necessary legislation, it can also be launched in Pakistan. .”
On April 30, 2020, the U.S. Food and Drug Administration approved the market launch of iQOS.
He said: “We have launched the product in 53 countries, including Saudi Arabia, and intend to bring it to Pakistan. However, we cannot do this alone. In addition to other necessary preparations, We also need the necessary laws to distribute products.”
He insisted that the promotion of low-risk products is the top priority of his company. In this regard, more than 7 billion US dollars have been invested in the past ten years with the aim of finding products with lower risks to consumers.
The general manager of PMPKL said in an inquiry that in view of the current situation in Pakistan and the challenge of parallel illegal business competition with tobacco, the company has no major investment plans in Pakistan in the near future.
