Pakistan news: Government waives of Rs220 bn GIDC dues

Government to waive over Rs200 bn GIDC dues

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Pakistan News: The current PTI government has just issued a presidential ordinance to forgo Rs208 billion worth of debt and liabilities of some top industrialists, fertilizer owners, CNG and Captive Power Plants, K-Electric, Gencos and some other private power producers. The ordinance has been made effective August 28, 2019 and now the ‘Naya Pakistan’ is frowned upon by PTI supporters.

President Arif Alvi has communicated that the Gas Infrastructure Development Cess (Amendment) Ordinance 2019 to exempt more than half of the outstanding liabilities of textile, private power generation, fertiliser, and CNG. As soon as the news started circulating people have been protesting the decision as it conflicts with the PTI central agenda.

Not only did the ordinance cut down the debts, but pushed down the GIDC rates up to 75%. The move is said to bring down the prices of gas and fertiliser for the end-consumers but is highly discouraged among public. However, masses are seeing it as a clear ‘U-Turn’ in policies by giving leverage to defaulters. #دوسوارب‌کا‌ڈاکوعمران has been trending#1 on twitter, which has been an active social media for Pakistan news lately, and is filled with tweets Imran Khan’s own supporters who jointly oppose this move.

People are of the view that this decision just favours a few industrialists that might have ‘invested’ in bringing the government into power. The move also questions the ‘accountability of corrupt’ and ‘facilitation to the poor’ that have been the two major motives of PTI or at least communicated to be so.

This move for some was the last nail in the coffin to cripple the economy and put layman under more pressure.

The presidential ordinance is valid for four months after which it can be extended for a term of four more months. However, the real question is of the ‘U-Turns’ that have now become a common norm of the current government. Whatever the reasons might be, the step has been seen as a key factor of increasing distrust in Imran Khan’s Naya Pakistan.

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