Tuesday, October 20, 2020

APTMA Punjab agrees to negotiate govt proposal for out of court GIDC settlement

Featured

GIP releases inaugural annual report at second plenary meeting

The Second Plenary Meeting of the Green Investment Principles for the Belt and Road (GIP) was held today in...

Pakistan re-elected as member UNHRC

Pakistan has been re-elected to the United Nations Human Rights Council (HRC) with an overwhelming majority securing 169 votes...

Indonesia to host Trade Expo Indonesia 2020 Virtually

The Government of Indonesia is once again hosting its biggest annual international business exhibition, the Trade Expo Indonesia (TEI)...
Zubair Yaqoob
Zubair Yaqoob
The author has diversified experience in investigative journalism. He is Chief content editor at wnobserver.com He can be reached at: [email protected]
All Pakistan Textile Mills Association (APTMA) Punjab has agreed to negotiate the government’s proposal for an out of court settlement of Gas Infrastructure Development Cess (GIDC) of pre-and-post GIDC Act 2015 and onwards for the system gas.

Chairman APTMA Punjab Adil Bashir held an emergent meeting of the general body of APTMA Punjab, largely attended by member mills from Lahore, Faisalabad and Multan through video link to consider a proposal of the government for an out of court settlement of Gas Infrastructure Development Cess (GIDC) of pre-and-post GIDC Act 2015 and onwards for the system gas.

The federal government has offered to pay the outstanding amount without Late Payment Surcharge.

The meeting unanimously constituted a six member committee to be represented by office bearers and members nominated from the participating member mills.

Chairman APTMA Punjab said majority of the members were in favour of negotiating this outstanding issue to pay off liability, if any, on best possible terms to be agreed upon.

He said the members having already paid GIDC be also extended the terms of the deal for adjustments against their payments accordingly.

The Punjab-based textile industry, being liquidity constrained, has also solicited adjustment of the final amount against outstanding payments on account of Sales Tax, DLTL, and Technology Up-gradation Fund Schemes, he added.

Zubair Yaqoob
Zubair Yaqoob
The author has diversified experience in investigative journalism. He is Chief content editor at wnobserver.com He can be reached at: [email protected]

Latest News

GIP releases inaugural annual report at second plenary meeting

The Second Plenary Meeting of the Green Investment Principles for the Belt and Road (GIP) was held today in...

Pakistan re-elected as member UNHRC

Pakistan has been re-elected to the United Nations Human Rights Council (HRC) with an overwhelming majority securing 169 votes in the 193-member UN General...

Indonesia to host Trade Expo Indonesia 2020 Virtually

The Government of Indonesia is once again hosting its biggest annual international business exhibition, the Trade Expo Indonesia (TEI) on 10 – 16 November...

The World Health Organization warns countries not to be complacent in measures to prevent Corona

The Executive Director of the World Health Organization's emergency program, Dr.Mike Ryan, has warned all countries of the world against negligence in following the...

South Korea records 102 new cases of coronavirus

South Korea's Quarantine Command Center said today, Tuesday, that the total number of people infected with Covid-19 rose to 24,805, an increase of 102...

Related News