BUSINESS

GIDC Needs abolishment and not statements FPCCI

KARACHI – Ismail Suttar Vice President FPCCI has termed a recent interview of the finance minister aired by different channels on the GIDC issue as surprising and feels that the government wants to follow the wrong  policies of the previous government which were not right and wanted to get their budgetary support through a TAX which they wanted to collect on the name of a pipeline which is nowhere to be seen, whereas FPCCI has categorically stated that the levy of GIDC has no moral or legal justification by the previous government and continues to believe so and have high hopes from the current PTI led government that it will understand the current conditions of the industries and their capacities to absorb such taxes would simply mean that the government wishes to pursue the wrong policies of the previous government which were clearly evident of Deindustrialization.

FPCCI is sure that the government fully understands that the current gas prices are simply not workable for the growth and prosperity of the Industries as well as exports which are badly needed for the nations wellbeing and has to be brought down to the levels of our competing nations but statements like GIDC will be dealt with case to case basis with individual consumers and not with their associations is a total failed policy which has never succeeded in the recent past history. On one hand the FM says that the private sector and the government is one team which the FPCCI fully endorses as this government gives a lot of divine satisfaction to the business community which feels that there is some light at the end of the tunnel but the strategy of handling the GIDC issue is something which is worrying the Apex chamber. There is no comparison between the industrial consumers and the CNG sector as the later immediately charge their increased costs from the end consumers wheras the industry is in no position to pass this cost over to its consumers.

It is time when the government needs to understand that we are one team and there will be no growth of economy if the industries are sick or uncompetitive. It is for the government to ensure that each and every industry in the country makes money and is protected to the extent that they continue to grow and expand, it is imperative that the government plays the role of a shield for the industry so that the industry works towards the development of the broader goals and then it is also important to do away with the wrong policies like GIDC which is no less than a litmus test for this government.