Imposition of GIDC to affect industry: PTA leader

KARACHI: KARACHI: The industry has vehemently rejected the national assembly’s anti-industry and anti-nation act of extending legal protection to the Gas Infrastructure Development Cess (GIDC) to be recovered from the industrial sector in particular.

As the National Assembly Standing Committee has approved the amended Gas Infrastructure Development Cess (GIDC) Bill, 2014, to give a legal cover to the Rs95 billion revenue collection target, the Chairman (SZ), Pakistan Tanners Association, Hamid A Zahoor said in a statement that the industry that has already been overburdened due to uncountable taxes and levies is beng slapped with GIDC.

He said that due to imposition of GIDC, the industry would be unable to bear this big levy. Hamid has argued that to bridge the widening gas supply gap and a number of gas import projects were being persued including the Iran-Pakistan (IP) pipeline project, Turkmenistan-Afghanistan-Pakistan-India (TAPI) pipeline project, LNG import projects and LPG supply enhancement project, he said that government should generate other resources to finnace these mega projects instead of robbing the consumers.

He said that all the subsequent governemnts in Pakistan had sought easy way to extort money from the nation instead of making serious efforts to generate alternative resources of revenue or enlarging tax net and bring all such black-sheep into the tax net who are enjoying all luxuries in the country without paying a penny as tax.

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