ISLAMABAD: This refers to displays/advertisements appearing in some leading newspapers on August 25 & 28, 2020 regarding Supreme Court’s judgement in the GIDC Act 2015.

“These advertisements have wrongfully presented the landmark Supreme Court judgement of 13th August 2020 on the GIDC Act 2015.

“Through these advertisements an impression is being created as if this judgement will negatively affect the economy and that there is no need to collect the outstanding Cess as the already collected amount is sufficient to complete these projects.

“The advertisement erroneously claims that North South Gas Pipeline projects has already been awarded to an another country.

“The Petroleum Ministry strongly refutes such stories and is of the view that this apex court’s judgment is a win-win case for both the government and the industry as it gives an opportunity of six months to the government to start gas infrastructure development projects by utilising the amount collected under this Act.

“At the same time the judgement has not only stopped collection of further Cess till the already collected amount is expended but it has waived the late payment surcharge and even allowed 24 monthly instalments to the industry to pay back the outstanding amount.

“It is further clarified that the Ministry of Petroleum is actively considering all options to launch the North South Gas pipeline and other projects by evaluating all possible options including international joint ventures.—PR

Copyright Business Recorder, 2020