LAHORE: Dr Mirza Ikhtiar Baig, Chairman Pakistan Denim Manufacturers and Exporters Association (PDMEA) and FPCCI Standing Committee on Banking, Credit and Finance has expressed a serious concern on increasing Gas Infrastructure Development Cess (GIDC) by 200 percent in the budget which will crippled all our industries and would result their shutdown.

In the budget 2014-15, the government has increased GIDC from Rs 100/MMBTU to Rs 300/MMBTU. Although most of us are paying Rs 13/MMBTU and taking stay for Rs 87/MMBTU. As such the gas price for our captive power generating units would increase from Rs 673/MMBTU to Rs 873/MMBTU, an increase of 200 percent in GIDC which will increase gas price by 30 percent in one go, making our product uncompetitive and unviable. Dr Baig spoken to Federal Minister Textile Senator Abbas Afridi and requested to take up the matter with the Finance Minister and the government to reduce it to at least Rs 150/MMBTU and increase should be implemented in phase wise.—PR