Karachi: Khyber Tobacco Company Limited (KHTC) has taken a significant step toward expanding its product portfolio by signing a Memorandum of Understanding (MoU) with South Korea’s KT&G Corporation for the proposed licensing of the internationally recognized cigarette brand, “Pine Passion Sky.”
According to a notification submitted to the Pakistan Stock Exchange (PSX), the MoU serves as the initial framework for a future royalty licensing agreement between the two companies. Once the definitive agreement is finalized, KHTC intends to manufacture and/or market the “Pine Passion Sky” brand in Pakistan. The arrangement remains subject to regulatory approvals, the execution of formal agreements, and the fulfillment of customary commercial conditions.
The company stated that it will promptly inform the market through the PSX’s PUCARS platform once the final licensing agreement is signed.
Khyber Tobacco believes the strategic collaboration with KT&G Corporation has the potential to strengthen its product offerings, improve its competitive position in Pakistan’s tobacco market, and support long-term business growth. The partnership could also provide local consumers with access to another internationally recognized cigarette brand while enhancing the company’s market presence.
The company added that any further material developments related to the transaction will be disclosed in accordance with applicable legal and regulatory requirements as the licensing process progresses.
