Islamabad October 30, 2021: Adviser to the Prime Minister on Finance and Revenue Mr. Shaukat Tarin chaired a meeting on fertilizer at Finance Division today. Minister for National Food Security and Research Syed Fakhar Imam, Minister for Energy Hammad Azhar, Secretary Ministry of Industries and Production, Secretary Ministry of Petroleum Division, Additional Secretary Ministry of Finance and other senior officials participated in the meeting.
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Tender for import of 100,000 MT of Urea has also been advertised. Speaking on the occasion, the Adviser to the Prime Minister on Finance and Revenue expressed satisfaction on urea availability and directed the gas companies to streamline supply of gas to the fertilizer units for smooth production of fertilizer. He further directed all the stakeholders to evolve consensus on matters related to sales tax refund and GIDC payments on fast track basis.
In 2012, the Pakistan Peoples Party (PPP) had introduced GIDC for different industries that were using gas as a source of energy or raw material for manufacturing their products. However, the GIDC Act was challenged in court where the companies obtained stay orders and stopped paying the cess.
However, the Pakistan Muslim League-Nawaz (PML-N) government introduced the GIDC Act 2015 and re-imposed the cess on different sectors. Both the governments stated that the main objective of GIDC collection was to generate funds required for the expansion of gas transmission and distribution network.
