Ipsos distances itself from “Pakistan Cigarette Market Assessment 2024"

Islamabad: Ipsos, a globally recognized market research and consulting firm based in France on Monday unequivocally declared that it has no connection with the report in question, did not author it, and did not conduct any research related to the “Pakistan Cigarette Market Assessment 2024.”

Ipsos confirmed that it had no involvement with the allegations against Khyber Tobacco Company Limited.

 KTC, a leading cigarette manufacturing company in Pakistan, issues the follow-up statement in response to the recent defamatory allegations disseminated in the report titled “Pakistan Cigarette Market Assessment 2024” purportedly authored by Ipsos Pakistan.

KTC received an official response to its legal notice from Ipsos, a globally recognized market research and consulting firm based in France. Ipsos unequivocally declared that it had no connection with the report in question, did not author it, and did not conduct any research related to the “Pakistan Cigarette Market Assessment 2024.”

In addition, ASB Associates, a firm purportedly linked to the issuance of the report, formally distanced itself from Ipsos Pakistan and any related activities.

These responses unequivocally indicated that the defamatory report was part of a malicious smear campaign aimed at tarnishing KTC’s reputation and undermining its business interests. The report, filled with baseless allegations and unsubstantiated claims, was designed to mislead the public and stakeholders about KTC’s business practices and compliance with regulatory standards.

Both Ipsos's clarifications and ASB Associates' subsequent distancing from Ipsos make it clear that the report was not only false but also entirely unsubstantiated and lacked any credible foundation. The disavowal from Ipsos invalidates any association of the report with credible market research standards. Similarly, the formal disassociation by ASB Associates from Ipsos Pakistan further exposes the fraudulent nature of the report and the entities behind it.

In addition, the malicious intent behind the report is further highlighted by the timing and manner of its dissemination. The efforts were clearly intended to damage KTC’s reputation and disrupt its business operations.

KTC’s longstanding commitment to transparency, regulatory compliance, and ethical business practices stands in stark contrast to the falsehoods propagated in the report. As a publicly listed company with financial statements and audited accounts available for public scrutiny, KTC has consistently demonstrated its dedication to maintaining the highest standards of integrity. Our proactive cooperation with regulatory authorities, including the Federal Board of Revenue (FBR), and our role as Pakistan’s foremost tobacco exporter underscore our contributions to the national exchequer and the economy at large.

In light of these developments, KTC reaffirms its position that the defamatory report was part of a deliberate attempt to harm our company. The corroborative disavowals from Ipsos and ASB Associates vindicate our stance and highlight the deceitful nature of the smear campaign against us.

We urge the public and stakeholders to dismiss the unsubstantiated allegations and to continue their support and trust in KTC as we remain steadfast in our commitment to excellence and compliance in all facets of our operations.