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Govt urged to take all stakeholders on board to resolve GIDC issue

KARACHI: The EFP Economic Council (EFP-EC) has demanded the government to take all stakeholders on board to resolve the issue of gas and infrastructure development cess (GIDC), a statement said.

 

 

Addressing an emergent meeting, EFP-EC Chairman Ismail Suttar said that the dispute could not be resolved without taking major stakeholders, including the Federation of Pakistan Chambers of Commerce and Industry, other chambers and trade bodies.

Any decision without the input of all the stakeholders can be an impediment in the resolution of the issue, Suttar said, adding that the previous governments, instead of raising taxes from unregistered persons, picked a route of imposing taxation through GIDC.

The infrastructure rates have rendered local industry uncompetitive against cheap imports from China, and Far Eastern countries, he said.

The EFP-EC chairman also said the GIDC will further hurt the weakening industry and would eventually increase unemployment. The cost of infrastructure in Pakistan is much higher than in neighbouring countries, while the backbone of any country depends on its local industry for import substitution and reduction in its export costs.

Hence, the government should not take any decision in haste, and take the input of EFP, FPCCI, and all major chambers for the resolution of the issue on an urgent basis.

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