Supreme Court orders gas companies to pay Rs 400 billion in taxes.

ISLAMABAD: The Supreme Court of Pakistan has rejected the appeals of gas companies in the gas infrastructure development case and ordered them to pay GIDC tax. A three-member bench of the apex court, headed by Justice Mushir Alam, had reserved judgment on February 20, which was announced today. More than 70 companies were parties in the case and all the petitions were rejected. The Supreme Court in a decision ordered the gas companies to pay about Rs 400 billion in taxes to the government. Was for.

The GIDC Act was introduced in 2011. The then government started levying additional taxes on gas companies and large industrialists. However, in June 2013, the Peshawar High Court restrained the government from collecting the tax until it was approved by Parliament. Had given.

Later, the Supreme Court upheld the order declaring the GIDC Act unconstitutional. In 2015, the then government amended the GIDC Act and re-enacted the law, which was challenged by industrialists in the Peshawar and Sindh High Courts. The Sindh High Court had declared the GIDC Act unconstitutional while the Peshawar High Court had declared it valid. The affected parties had challenged the decision in the Supreme Court.

The present federal government has issued an ordinance under which the additional Rs 208 billion received from consumers in respect of gas infrastructure by various industrialists was waived. The ordinance was immediately withdrawn by the government after strong criticism from the opposition, which also canceled the decision to waive Rs 208 billion for various industrialists. The Attorney General held an early hearing in the Supreme Court on the instructions of Prime Minister Imran Khan. The court has given its verdict today