Pakistani Farmers to Pay GIDC Payment – Research Snipers

Pakistani Farmers to Pay GIDC Payment

The fertilizer industry has been asked by the government to pay gas infrastructure development cess (GIDC) within 2 years. As per the industry experts, this decision will impact the farmers as urea prices might increase significantly.

Fertilizer Manufacturers of Pakistan Advisory Council (FMPAC) Executive Director Brigadier (Retd) Sher Shah Malik said that the fertilizer industry is making efforts to devise a workable solution. However, the government was refusing proposals that stakeholders had come up with.

He issued warning that if the decision of the court is implemented directly and no relief is offered, the industry would have to face huge consequences. The food security of Pakistan would suffer from collateral damage.

He said, “The Supreme Court’s decision also binds the government to cough up Rs295 billion and make considerable progress on gas infrastructure projects over the next six months.”

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It has requested the government to use the already collected GIDC of over Rs295 billion on the proposed gas infrastructure development. However, it seems that the funds that were collected by earlier governments have been used elsewhere and are not available anymore.

The industry has been accused by the government for having high profit margins.

He said, “Actual profitability margins of the industry may be verified from websites of fertilizer manufacturing companies, which are not as high as being claimed by the government.”

via Tribune

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