KARACHI: The Pakistan Tanners Association (PTA), criticising the Gas Development Infrastructure Cess (GIDC) act, termed it as a black law, which will destroy the industrial base of Pakistan.
PTA Chairman Hamid Zahoor and former chairman Gulzar Firoz, in a joint statement, said that tax imposed arbitrarily by the two majority parties after passing the bill in the National Assembly and Senate would prove to be lethal for country’s economy, especially the export-oriented industry, which is already struggling for its survival.
Hamid said that industry has no more potential left to absorb any such heavy tax and most of the industries would start closing down. He said that the government is in impression that industry would be tolerating imposition of frequent taxes and levies which is totally wrong. He said that the two regimes have extremely squeezed the industry and any further would result in closure of manufacturing sector.
He pointed out that the utilities for industrial sector is far cheaper than Pakistan. He said that even India and Sri Lanka who do not produce oil and gas are providing oil and gas to their industry cheaper than Pakistan. He further pointed that Pakistan produces entire gas production indigenously while our government gets oil cheaper than other countries in the region. He demanded that the government not impose GIDC or any other taxes and levies if it wants to avoid any chaos in the country.
