Pakistan, Jan. 22 -- The government has decided to forego 50% of Gas Infrastructure Development Cess (GIDC) arrears or around Rs200 billion to fertilizers, CNG, textile sectors.
On Thursday, Finance Minister Asad Umar addressing a press conference said the government would revise the law linked to GIDC, reports an English daily.
He shared the cabinet had given the approval to give 50% waiver on GIDC, akin to the way the CNG sector had taken advantage of this facility previously.
The direct beneficiaries of the government's benevolence in this regard are going to be the fertilizer, CNG and textile sector which had accumulated over Rs400 billion from consumers under GIDC.
The aforementioned sectors got stay orders from courts and hence di...