GIDC outstanding amount reaches Rs445.6bn

March 06, 2023 (MLN): The total outstanding amount of the Gas Infrastructure Development Cess (GIDC) is approximately Rs445.6 billion, the public document revealed on Monday. 

Among the major sectors, the fertilizer (feed) sector has the highest outstanding amount of Rs171bn, followed by the CNG sector with Rs82bn, the captive industry with Rs78.9bn, the electric sector with Rs39bn, and the textile sector with Rs22bn.

It has also been reported that the fertilizer (fuel) sector has an outstanding amount of Rs19bn.

This information will have a significant impact on the affected sectors and the overall economy, as the payment of outstanding dues can affect the financial stability of these sectors.

The government is likely to take necessary actions to recover the outstanding amounts from the relevant sectors, and this may include imposing penalties and fines.

The affected sectors may also need to restructure their financial obligations to avoid further defaults and penalties.

Overall, the issue of GIDC outstanding amounts is a significant concern for the government, and it will require effective management and coordination among all stakeholders to address this issue and ensure the financial stability of the affected sectors.

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