KARACHI: Federation of Pakistan Chambers of Commerce & Industry (FPCCI) has urged the government to resolve the long outstanding issue of Gas and Infrastructure Development Cess (GIDC) in consultation with the key stakeholders and FPCCI.
President FPCCI, Engr. Daroo Khan Achakzai, said the element of uncertainty that has been prevailing in both the investors – local and foreign – needs to be removed and their confidence in the government policies should be restored, which is a pre-requisite for the success of any scheme.
FPCCI Chief elaborated that the former government instead of utilizing the cess revenue on building infrastructure of gas pipelines as originally intended by the GIDC Act 2015, irresponsibly used it on CNG stations, Metro projects, curtailing the budget deficit etc.
He added that the misuse of GIDC had resulted in higher cost of doing business for the indigenous industries thus rendering them uncompetitive both in local and global markets, and at the verge of collapse.
Engr. Daroo Khan Achakzai recalled that the gas prices in Pakistan, as compared to its regional competitors like Bangladesh, India, Vietnam etc., was much higher and with an additional cost of GIDC it would only add to the woes of the business community.