IPO lauds PTC’s role in protecting IPRs

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On the eve of world IP day celebrations, IPO Pakistan recognised the support of Pakistan Tobacco Company (PTC)  to promote IPR awareness and advocacy. The chief guest at the occasion, Dr. Nazir Saeed, the Federal Secretary of Ministry of Information, Broadcasting & National Heritage presented Mr. Hasaan Khawar, Head of Business Development, PTC with a shield in recognition of PTC’s services for this cause. Mr. Amir Hassan, Director General, Intellectual Property Organization was also present at the occasion. It is estimated that nearly 60 per cent of the consumer goods in the country are pirated or substandard and according to some estimates the numbers is as high as 86 percent.

The tobacco industry also faces a big threat from counterfeiting of its brands. It is estimated that fake and tax-evaded cigarettes are estimated to cost an annual loss of Rs. 20 Billion to the national exchequer.