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!title52.jpg (52659 bytes)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.

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.

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.

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