ISLAMABAD – Dispelling the impression that half of the outstandingliabilities of various sectors including fertilizer, textile, power andcompressed natural gas (CNG) was waived off through promulgation of GasInfrastructure Development Cess (GIDC) Ordinance, Minister for Energy OmarAyub Khan Monday said the option had been provided to all the industrialsectors if they applied for new rate and paid 50 per cent outstanding ofthe GIDC.
Holding a press conference along with Special Assistant to Prime Ministeron Petroleum Nadeem Babar, he said the industrial sectors would have to inkan agreement with the government besides withdrawing cases from the courts.
He said it would not only help collect Rs210 billion to the nationalexchequer due to settlement of long litigation issue but also createconducive environment for investments besides restoring confidence ofinvestors.
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The minister said impression was being given that the government was goingto collect only Rs210 billion against Rs420 billion under GIDC head.
