News Column

LCCI calls for withdrawal of increase in GIDC

June 7, 2014

President, Lasbela Chamber of Commerce and Industry (LCCI) Ismail Suttar has called for withdrawal of increase in gas infrastructure development cess (GIDC) per mmbtu for independent power plants, captive power producers, CNG and industrial consumer.

The increase is more than 200 percent compared to the current rate, an LCCI press release said here on Friday.

He was of the view that the increase in GIDC would harm the measures taken by the government in federal budget 2014-15 to boost industrial activities. It would add 30% to the cost of production for those industries that use captive power generation and would leave negative effects on their competitiveness. This will also increase the cost of power and will affect other industrial consumers as well, he said.

LCCI Chief said the levy of this enormous increase of GIDC on CNG would add enormously to the cost of CNG directly affecting people as it will increase cost of both public and private transportation.

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Source: Balochistan Times (Pakistan)

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