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| November 10, 2005 | Thursday | Shawwal 7, 1426 |
Arbitration tribunal meets today
ISLAMABAD, Nov 9: The five-member arbitration tribunal haded by former chief justice Ajmal Mian will hold its first meeting here on Thursday to resolve the dispute between the NWFP and the Water and Power Development Authority over computation of net hydro-electric power profit.
The tribunal was formed last week by the government under an agreement signed by the NWFP, Wapda and the water and power ministry to resolve the dispute within six months, but the period is extendible through mutual consent of the parties.
The NWFP is represented in the tribunal by Senator Prof Khurshid Ahmed and provincial Public Service Commission Chairman Mr Abdullah. Former Wapda members for power and finance, Javaid Akhtar and Manzoor A. Sheikh, respectively, are representing the authority.
The NWFP government has a claim of about Rs350 billion in arrears against Wapda on account of the profit since 1991-92.
Wapda has been saying that it had made full payments to the NWFP at an average of Rs6 billion per annum under the A.G.N. Kazi formula.
Both the parties differ over interpretation of the formula. The tribunal shall decided the dispute in accordance with relevant decisions of the Council of Common Interests.—Staff Reporter
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