Industrialists have said that implementation of Gas Development Infrastructure Cess (GIDC ) Bill 2015 will raise gas prices by 35 percent, which will create serious problems for many industrial units, enhance unemployment and make Pakistani products uncompetitive in the international markets. Terming GIDC as an 'anti-business initiative', they said that such policies will lead to unemployment and drastically reduce export earnings of Pakistan.
Zahoor Hadi said that the government should abstain from taking such harsh steps which would surely raise the cost of doing business, overburdens the taxpayers and may also become the cause for complete shutdown of many industrial units particularly the value-added and export-oriented industries.
Chairman Pakistan Tanners Association (PTA) S.Z, Hamid A Zahoor has termed the GIDC act as a black law meant to destroy the industrial base of Pakistan and creating massive unemployment across the country. He said that tax imposed arbitrarily by the two majority parties after passing the bill in National Assembly and Senate would prove to be lethal for country's economy especially the export-oriented industry which is already struggling for its survival. Hamid said that industry has no more potential left to absorb any such heavy tax and most of the industries would start closing down.
He further pointed that Pakistan produces entire gas production indigenously while our government gets oil cheaper than other countries in the region. He earnestly demanded of the government not to impose GIDC or any other taxes and levies if it wants to avoid any chaos in the country.
Former Central Chairman, Gulzar Firoz said that the government is in impression that industry would be tolerating imposition of frequent taxes and levies which is totally wrong. He said that the two regimes have extremely squeezed the industry and any further would result in closure of manufacturing sector. He pointed out that the utilities for industrial sector is far cheaper than Pakistan. He said that even India and Sri Lanka who do not produce oil and gas are providing oil and gas to their industry cheaper than Pakistan.
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