PESHAWAR, Dec 11: The Water and Power Development Authority (Wapda) has rejected NWFP government’s stand on the issue of distribution of net hydel profit as per the AGN Kazi formula envisaged by a special committee terming it, in a latest communique, a disputed matter.

Official sources told Dawn that in the latest communique to the provincial government, Wapda had questioned the validity of the AGN Kazi formula disputing provincial government’s stand that the provincial share of net hydel profit should be calculated on the basis of the formula put forth by a special committee back in late 1980s.

Wapda’s latest stand on the disputed issue had recently been conveyed to the provincial government in an official communication to the latter under which the authority had refused to provide it with the accounts of its distribution companies.

The provincial government, added the sources, had recently requested Wapda to provide it the concerned record of the distribution companies (Discos) to help it calculate NWFP’s actual net hydel profit share.

Not only that the authority, maintained the sources, had refused to oblige NWFP’s request for the provision of the Discos’ relevant record, it had also brought under question the legitimacy and validity of the AGN Kazi formula.

The last military-backed civil government in the province had lodged a claim of Rs298 billion arrears against Wapda on account of net hydel profit accumulated since 1973-74 financial year.

Under a revised claim the incumbent provincial government had calculated Rs345 billion arrears against Wapda — a claim rejected by the authority which, according to the sources, has a claim of overpayment of Rs5 billion to the province under the net hydel profit head.

The provincial government, added the sources, had calculated its arrears by applying the AGN Kazi formula determined in 1987.

The official sources said disputing the validity of the application of the AGN Kazi formula for determining the annual net hydel profit share of the province, Wapda had adopted the stand that the formula lacked approval of the Council of Common Interest, as claimed by the provincial government.

“Wapda has adopted the stand that the AGN Kazi committee’s formula cannot be applied to determine the annual share because the same lacks approval by a competent forum,” said an official concerned of the provincial government.

The provincial government has laid claim to Rs17.65 billion net hydel profit share for the 2003-04 financial year in accordance with the AGN Kazi formula. However, it is not likely to get anything beyond Rs6 billion under this head during the current financial year.

Talking to a select group of journalists of Peshawar on Wednesday, the provincial minister for finance, planning and development, Siraj-ul-Haq, also said that Wapda had refused to provide the provincial government with the Discos’ records.

In response to the Wapda’s latest stand, according to sources, the provincial government was likely to move the quarters concerned of the federal government to get its voice heard.

“Wapda has adopted the stand that it has been releasing Rs6 billion annually to the province in fulfilment of the federal government’s directives and made excess payments to the province,” said the officer.