Big defaulters get Rs200 bn bailout.

The Pakistan Tehreek-e-Insaf (PTI) government on Thursday decided to bail out big defaulters by waiving 50percent of their outstanding dues - or around Rs200 billion - on account of the Gas Infrastructure Development Cess (GIDC). Addressing a press conference, Finance Minister Asad Umar said that the government would amend the law relating to the GIDC in this regard. He added that the cabinet had taken a decision to offer 50 percent waiver on GIDC just as the compressed natural gas (CNG) sector availed this facility in the past. Fertiliser, textile and CNG sectors are among the major defaulters, which...

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