12.10. GIDC Senate Brief.docx - Government of Pakistan...

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Government of Pakistan Finance Division CF. Wing **** BRIEF Subject: COLLECTION OF GIDC UNDER THE GIDC ACT, 2015 AND ITS UTILIZATION TILL AUGUST, 2017 GIDC Act (Act No. IV of 2015) was passed by Parliament and notified in the Gazette by Senate Secretariat on 22.05.2015. Keeping in view the provisions of the GIDC Act, 2015, the cess collecting companies have billed accumulative arrears to the sectors/consumers which amount to Billions of Rupees. The utilization of Cess has been enumerated in section 4 of the GIDC Act, 2015 whereby the Cess will be utilized by the Federal Government for or in connection with infrastructure development of Iran Pakistan Pipeline Project, Turkmenistan-Afghanistan- Pakistan-India (TAPI) Pipeline Project, LNG or other ancillary projects. 2. As per GIDC Act, 2015, the collection of GIDC is made by the Oil and Gas companies which is deposited into the public exchequer and utilized as per the Utilization Rules. Gas Infrastructure Development Cess Utilization Rules require that the project on which the cess is to be utilized may be approved by the High Power Project Board, chaired by the Finance Minister.
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