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Govt to resolve GIDC issue in accordance with SC decision: Hafeez Shaikh

Govt to resolve GIDC issue in accordance with SC decision: Hafeez Shaikh

ISLAMABAD: After detailed deliberations with the representatives of fertilizer industry and APTMA, the government Friday decided to resolve the Gas Infrastructure Development Cess (GIDC) issue in the light of the Supreme Court decision.

However, the government would also support the industry in the post Corona environment, said Adviser to the Prime Minister on Finance and Revenue Dr. Abdul Hafeez Shaikh while chairing two separate meetings the group of representatives from fertilizer industry and All Pakistan Textile Mills Association (APTMA) to discuss the issue of Gas Infrastructure Development Cess, GIDC.

Special Assistant to Prime Minister, on Petroleum Nadeem Baber and Minister for Industries Hammad Azhar were also present during the meetings while officials of the Ministry of Finance, Petroleum Division and FBR also assisted during the meeting.

Chairman, Fertilizer Manufacturers of Pakistan advisory Council (FMPAC), Lt. Gen. (r) Tariq Khan and Chairman APTMA, Dr. Amanullah Kassim Machiyara in these separate meetings requested the Adviser Finance to extend the time limit for the payment of GIDC so that both industries have a better liquidity position.

SAPM on Petroleum and Minister for Industries also briefed the meeting, according to press statement issued by the Finance Ministry.

The Adviser discussed the issue in detail with the participants of the meeting and provided due opportunity to share their views supported by the relevant facts.

He however underlined that decision of the honorable Supreme Court of Pakistan has to be implemented.

“After detailed deliberations the Chair decided that the issue will be resolved in the light of the decision of the court but the government will also support the industry in the post Corona environment,” the statement added.

The Adviser directed that two separate sub-groups would be formed to look into the issue of GIDC to propose 2-3 workable options for the amicable solution.

The first group would have representatives from the fertilizer industry, Finance Ministry, FBR and Adviser Petroleum to be headed by the Minister for Industries.

The second group would have representatives from APTMA, Finance Ministry, FBR, Adviser Petroleum, Adviser to PM on Commerce and Minister for Industries.

The Minister for Industries would chair both groups and present recommendations in the meeting to be held next week.