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GIDC controversy

Had the prolonged litigation involving Gas Infrastructure Development Cess (GIDC) been an issue, the government would have introduced an ordinance regarding the speedy disposal of such cases. Instead, it went for striking a lucrative amnesty deal with the corporate world, which the media has been reporting as the waiver of loans for weeks. After criticism grew and refused to die away, the government came up with a flurry of explanations, and most of them lame, to ward off the concerns of the public over the GIDC development. The whole saga began when the government allowed 50 per cent waiver of Rs420 billion GIDC to fertiliser plants, power plants and other businesses before audit through a presidential ordinance, and all in a clandestine manner. Calling it a move for out-of-court-settlement of the ‘disputed’ GIDC, Minister for Energy Omar Ayub Khan and Special Assistant to the Prime Minister on Petroleum Nadeem Babar hailed the development as a step forward to regulate and reform the energy sector. They also announced revoking several overlapping laws, regulations and approval procedures to boost the energy sector and improve the country’s ranking in the Ease of Doing Business index.



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PM resolves to facilitate trade with Afghanistan

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