Year
2000 witnessed a sluggish start both on economic and political fronts,
later on it proved to be full of events fishing with significant
events like settlement of WAPDA-Hubco dispute and exile of former
prime minister Nawaz Sharif and family.
Some corrective decisions taken by the government during the year 2000
have provided basis for the economic growth. The resolution of WAPDA
and Hubco dispute would not only open the gates for foreign investment
but certainly help carrying out a massive privatization of public
sector units like Habib Bank, KESC, PTCL and PSO during the coming
year.
SPECIAL
REPORT
The agreement
between WAPDA and HUBCO represents hard work and a fair compromise on a complex
set of difficult issues. The negotiations were successfully concluded because
all of the parties were committed to establishing a sustainable commercial
relationship for the duration of the contract. The centerpiece of the Agreement
is a reduction of the power tariff that WAPDA pays to HUBCO. Restoration of a
normal revenue stream will enable HUBCO to resume dividend payment to
shareholders which has remained suspended since 1998 owing to the tariff
dispute.
IRAN,
PAK & INDIA GAS PIPELINE
It is
heartening to learn that the long stalled Iran, India gas pipeline through
Pakistan is to be revived soon as all the three parties i.e. Iran, India and
Pakistan have, at last, agreed to form a multinational consortium to implement
the 3 billion dollar pipeline project which will carry Iranian gas to India’s
energy starved northern states via Pakistan, Shamim A. Rizvi, reports from
Islamabad.
