FPCCI for resolving GIDC issue
Misuse of GIDC resulted in increased cost of doing business for the domestic industries
Misuse of GIDC resulted in increased cost of doing business for the domestic industries. PHOTO: FILE
KARACHI:
Federation of Pakistan Chambers of Commerce and Industry (FPCCI) President Daroo Khan Achakzai urged the government to resolve the long outstanding issue of gas infrastructure development cess (GIDC) in consultation with key stakeholders and the FPCCI. He was of the view that this will remove uncertainty that has been prevailing in both the local and foreign investor circles. It will also help restore their confidence in government policies. The FPCCI chief elaborated that the previous government, instead of utilising the cess revenue on building infrastructure of gas pipelines, as originally intended by the GIDC Act 2015, irresponsibly used the cess on CNG stations, metro projects, curtailing the budget deficit, etc. He added that the misuse of GIDC resulted in increased cost of doing business for the domestic industries thus rendering them uncompetitive.
Published in The Express Tribune, January 17th, 2019.
Federation of Pakistan Chambers of Commerce and Industry (FPCCI) President Daroo Khan Achakzai urged the government to resolve the long outstanding issue of gas infrastructure development cess (GIDC) in consultation with key stakeholders and the FPCCI. He was of the view that this will remove uncertainty that has been prevailing in both the local and foreign investor circles. It will also help restore their confidence in government policies. The FPCCI chief elaborated that the previous government, instead of utilising the cess revenue on building infrastructure of gas pipelines, as originally intended by the GIDC Act 2015, irresponsibly used the cess on CNG stations, metro projects, curtailing the budget deficit, etc. He added that the misuse of GIDC resulted in increased cost of doing business for the domestic industries thus rendering them uncompetitive.
Published in The Express Tribune, January 17th, 2019.