PKR 210Bn GIDC write-off is ‘no free lunch’, says Omar

The govt. has defended its decision to write off about PKR 210Bn to big businesses out of their outstanding PKR 420Bn bills on account of Gas Infrastructure Development Cess (GIDC), saying it gave up uncertain past bills to secure a lower but more certain future revenue stream. Energy Minister Omar Ayub Khan has said that it is not a free lunch to fertiliser or any other sector. An amount of PKR 43Bn is outstanding against general industry who would now pay about PKR 21Bn.

9/3/2019