PESHAWAR, Oct 10: The NWFP government is hopeful of getting over Rs 51 billion as its share of hydel profit for 2005-06 and 2006-07 financial years as a result of the arbitration tribunal’s decision, according to official sources.

The amount of over Rs 51bn, if agreed by the Wapda, would come over and above an amount of Rs 110.1bn which the Authority is required to pay to the province in five equal annual installments of Rs 22bn.

The province has got its long-standing demand approved by the tribunal which has calculated NWFP’s net hydel profit share in accordance with the AGN Kazi committee formula.

The arbitration tribunal’s decision has set a precedent for the province which would now be eyeing to get annul net hydel profit share beyond 2004-05 financial year.

Taking Rs 6.92bn as the bench mark for calculating NWFP’s share for the 1991-92 financial year, the tribunal applied 10 per cent annual growth rate in accordance with the AGN Kazi committee’s formula which led the province’s share to reach at Rs 23.91bn in the 14th year, i.e. 2004-05 financial year.

The provincial government also intends to make a formal request to Wapda to pay NWFP’s share for the current financial year according to the AGN Kazi formula thereby the province should receive Rs 28.9bn for the 2006-07 financial year up from Rs 6bn capped share for the on-going financial year.