KARACHI: Presidents of all Chambers of Commerce and Industry across Pakistan, while rejecting the revision in Gas Infrastructure Development Cess (GIDC) announced by Federal Finance Minister Ishaq Dar at a press conference on Tuesday, said that they would continue to protest against the unjust GIDC until the government announces its complete withdrawal.
In a joint statement they strongly opposed GIDC and pledged that they would be united against such anti-business initiatives.
All chambers of Commerce including Karachi Chamber, Islamabad Chamber, Lahore Chamber, Rawalpindi Chamber, Faisalabad Chamber, KPK Chamber, Quetta Chamber, Gujranwala Chamber and Lahore Chamber appealed the government to immediately withdraw this anti-business initiative and facilitate growth of businesses which would automatically generate more tax revenue, create more jobs and enhance exports.
The said that GIDC would make the business community un-competitive in the region and would result in flight of capital therefore it should immediately be withdrawn.
They said that imposition of GIDC would prove to be disastrous for the industry and terribly affect Pakistan’s exports. “The value-added and export-oriented industries has been instrumental in earning valuable foreign exchange to the tune of billions of rupees while the GIDC would not be accepted at any cost as it will increase the cost of production,” they asserted.
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