thenews.com.pk 21 Sep, 2020 03:15 am

Govt process to recover Rs517b GIDC amount hits snags

Govt process to recover Rs517b GIDC amount hits snags
ISLAMABAD: The process that the Petroleum Division initiated to recover Rs517 billion collected by various sectors of economy in the head of GIDC has hit snags, as all the players such as...

Top Story September 21, 2020 ISLAMABAD: The process that the Petroleum Division initiated to recover Rs517 billion collected by various sectors of economy in the head of GIDC (Gas Infrastructure Development Cess) has hit snags, as all the players such as industrial, fertilizer, CNG and captive power plants have submitted their petitions to the Supreme Court for review of its decision.The official said the fertilizer sector owed Rs195 billion to the government, power sector Rs76 billion, captive power houses, CNG and industrial sector need to pay Rs246 billion in the head of GIDC.The export industry moved the court pleading that the government wanted to recover Rs200 GIDC per MMBTU gas for captive power plants, but the captive power plants fall in the industrial sector for which the GIDC stands at Rs100 per MMBTU.Industry wants Captive Power Plants should be treated as an industrial sector.

The Supreme Court had asked the government to recover the GIDC amount of Rs417 billion, which has increased to Rs517 billion in 24 equal installments from August 1, 2020.In addition, some players have also submitted their petitions to the Supreme Court seeking review of the decision the apex court announced earlier on August 13, 2020.

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