Discover and read the best of Twitter Threads about #GIDC
Most recents (3)
The Pakistani government has decided to use all legal means to recover PKR 447 billion in unpaid Gas Infrastructure Development Cess (GIDC) from commercial and industrial entities.
Read 🧵 below 👇
Read 🧵 below 👇
The Supreme Court of Pakistan ordered the recovery of all GIDC accrued by 2020-21 and suspended future GIDC until all outstanding amounts were recovered. However, 3,194 petitions in various high courts are hindering the recovery of PKR 420 billion.
The government may also lose the power to collect GIDC if it fails to carry out development projects, such as pipelines from Turkmenistan, Iran, or from Karachi to Lahore, depending on the international and political environment.
1. Ref. Ads/campaigns appearing in some media regarding verdict of #SC on #GIDC Act 2015, the content is strongly rebutted by this Division.
MoEPD believes that this judgment is a win-win case for GoP & Industrial/commercial entities on GIDC.
MoEPD believes that this judgment is a win-win case for GoP & Industrial/commercial entities on GIDC.
2. The landmark judgement hasn't only stopped collect. of further Cess, even allowed entities to pay back the outstanding amount in 24 installments without late surcharge.
MoEPD also denies the claims made in Ads. tht NSGP project has already been awarded to an another country
MoEPD also denies the claims made in Ads. tht NSGP project has already been awarded to an another country
3. MoEPD is actively considering all options to launch the North South Gas pipeline and other projects by evaluating all possible options including international joint ventures.
The Reality & Rumours Of #GIDC Rs 300 Billion “Supposed” Write Off.
A Thread:
1. GIDC was imposed by #PPP government in 2011
2. It was imposed to help build Iran-Pakistan Gas Pipeline
3. It is a Non-Tax Revenue
4. So it falls under the category of CESS Charge
A Thread:
1. GIDC was imposed by #PPP government in 2011
2. It was imposed to help build Iran-Pakistan Gas Pipeline
3. It is a Non-Tax Revenue
4. So it falls under the category of CESS Charge
5. The #CNG Association Of Pakistan was the first one to oppose it
6. They went to the court and took a STAY ORDER
7. Then the Fertiliser industry followed the foot steps of The CNG association
8. They went and took a stay order as well.
9. But the trick these co’s played...
6. They went to the court and took a STAY ORDER
7. Then the Fertiliser industry followed the foot steps of The CNG association
8. They went and took a stay order as well.
9. But the trick these co’s played...
.... was that they were collecting these CESS charges from the consumers but not depositing the money in the government accounts. Which is a crime in my opinion.
10. #NS government kept playing along by delaying the collection by force from these companies.
10. #NS government kept playing along by delaying the collection by force from these companies.
