PM Imran Khan withdraws decision to waive-off liabilities of industrialists

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  • The government has taken back the GICD Ordinance 2019 that was issued with the view to recovering fifty percent of the stuck revenue through an out of court settlement in consultation with the industrial bigwigs.
  • The total amount stuck in the GICD litigation process is about 417 billion rupees.

GICD_Ordinance

Since PM Imran Khan besides his narrative to counter the corruption of the elite is also prone to take U-turns in his decisions and policies and has been greatly criticized for his U-turns. In another U-turn, the premier informed the nation that going to the court carries a risk as the decision can go either side and decided to withdraw the GICD Ordinance.

The government has taken back the Gas Infrastructure Development Cess Ordinance 2019 that was issued with the view to recovering fifty percent of the stuck revenue through an out of court settlement in consultation with the industrial bigwigs.

President Dr. Arif Alvi promulgated the GICD Ordinance 2019 to write-off half of the liabilities of fertilizer, textile, power generation, and CNG sectors. However, in the context of recent controversy, the premier has decided to withdraw the said ordinance to improve transparency and good governance.

He also directed the Attorney General to move an application for the urgent hearing in the apex court of the country so that the matter stands decided in letter and spirit strictly in compliance with the laws and the constitution.

The total amount stuck in the GICD litigation process is about 417 billion rupees. The apex court has already dismissed the GICD statute and the Federal Government’s review petition as well.

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PM has also said, in accordance with the statement issued by the Prime Minister’s house, that the government could either get the whole amount or could lose it altogether and might possibly forgo any prospect of future revenue collections under this head. Also, the government could be saddled with the burden of administering refunds of approximately 295 billion PKR of the principal amount.

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