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Tuesday Sep 03 2019
By
APP
,
GEO NEWS

Cabinet discusses waiver of Rs208bn in GIDC to industrial sector

By
APP
,
GEO NEWS

ISLAMABAD: The Cabinet discussed at length on Tuesday the waiver in Gas Infrastructure Development Cess (GIDC) of Rs208 billion to the industrial sector.

In the session today under Prime Minister Imran Khan, federal Petroleum Minister Umar Ayub said that the government is not giving any sector unauthorised concessions.

The minister said that the government has helped resolved the issue of GIDC, adding that it will help gain RS45 billion annually.

Special Assistant to PM on Petroleum Nadeem Babar said that those companies that received from the GIDC, will not get any concession.

Special Assistant to PM on Information Dr Firdous said also discussed the issue of GIDC.

She said the prime minister expressed his displeasure over a campaign to malign the government, which had taken concrete steps to root out corruption and ensure merit in the country.

Dr Awan said that the PM directed that the media should be again given a briefing regarding the GIDC to properly highlight the government’s point of view.

The government waived off approximately Rs208 billion in GIDC through a presidential ordinance with effect from August 28. According to The News, as per a copy of the promulgated ordinance, influential industrialists, and owners of fertilizers, CNG and Captive Power Plants, K-Electric, Gencos and Independent Power Producers (IPPs) will pay half cess of the amount collected from May 22, 2015 to December 21 2018. 

The ordinance also has reduced to zero the rate of cess for textile, carpet, leather, surgical and sports industries and the captive power plants.

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