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APTMA agrees to out-of-court settlement of GIDC issue

APTMA agrees to out-of-court settlement of GIDC issue

LAHORE: Punjab’s textile millers have agreed to negotiate the Gas Infrastructure Development Cess (GIDC) issue out-of-court after the proposal was floated by government during negotiations held in 2018.

A press release issued by APTMA stated “we have agreed to negotiate government’s proposal for an out of court settlement of GIDC pre-and-post GIDC Act, 2015 and onwards for the system gas,”.

Earlier during meetings held between government officials and APTMA representatives from Punjab on December 10, 2018, government had offered to solve the issue through an out of court settlement. The government had offered to pay the outstanding amount to the millers without the late payment surcharge.

Following the negotiations, APTMA representatives had requested some time to discuss the proposal with the association’s members. Moreover, APTMA Punjab President Adil Bashir held an emergent meeting of the general body which was attended by members from Lahore, Faisalabad and Multan in order to discuss the proposal.

“The meeting unanimously constituted a six-member committee to be represented by office-bearers and members nominated from the participating member mills to negotiate with the government in this regard,” said the press release issued by the APTMA.

The release also highlighted that majority of the members were in favor of negotiations which would help solve the issue of pay off liability on the best possible terms.

It also mentioned that the members, who had already paid GIDC, also sought deal for adjustments against their payments accordingly. “The Punjab-based textile industry, facing liquidity crunch, has also solicited adjustment of the final amount against outstanding payments on account of sales tax, drawback of local taxes and levies, and technology pp-gradation Fund Schemes etc,” added the release.