April 01 - 07, 2002
DELIMITATION OF NA, PAS
The Election Commission announced on Tuesday
delimitation of seats for national and provincial assemblies, with all
the urban centres registering significant increase in their share of
representation in the lower house of the parliament.
The remaining 85 seats, 60 for women and 25 for
technocrats in the National Assembly, will be filled on proportionate
representation basis with one province as constituency.
Karachi, which earlier had 13 National Assembly
seats, has been allocated 20 out of total 61 seats for Sindh.
Hyderabad, which had earlier five NA seats, will now have six.
Lahore, once stronghold of exiled PML(N) leader
Nawaz Sharif, will now have 13 NA seats, against its earlier share of
nine seats. Share of Multan district has been increased from three
seats to six National Assembly seats.
Rawalpindi city, which had two NA seats, will now
have "almost" four NA seats as one of its constituencies
will include areas like Chaklala, mostly occupied by serving and
retired armed forces personnel. Islamabad which earlier had one seat,
will now have two seats.
The Peshawar city will now have four NA seats
against its previous share of three seats. Quetta city, which had one
NA seat, has been allocated two seats. The list of preliminary
delimitation of constituencies were issued at a news briefing on
Speaking on the occasion, Chief Election
Commissioner, Irshad Hasan Khan said the "delicate" task of
delimitation process was undertaken by the Election Commission alone.
All the four members of Election Commission and its secretary were
also present on the occasion. To a question about the role of NRB in
delimitation, the CEC said: "Zero."
One National Assembly seat for Punjab consists of
496,441 individuals; Sindh, 499,015; NWFP, 506,740; Balochistan,
468,992; federal capital, 402,618 and Fata, 264,694. Similarly, one
provincial assembly seat for Punjab consists of 247,883; Sindh,
234,153; NWFP, 179,151, and Balochistan 234,153.
WAPDA FIRMS ALLOWED 5.5
The National Electric Power Regulatory Authority (Nepra)
on Thursday allowed 12 corporate companies of WAPDA to increase
electricity rates by 5.5 paisa per unit for domestic consumers under
automatic fuel adjustment mechanism.
The tariff for consumers using more than 1,000
units per month has not been increased because they are already paying
higher rates. Similarly, rates for electricity consumers in Karachi
would remain unchanged as a windfall of previous review along with
lifeline consumers using less than 50 units per month.
The latest increase has come just three weeks after
the notification of an average 9 paisa and 13 paisa per unit tariff
reduction for WAPDA and KESC consumers respectively whose bill
collection has yet to be made by the two utilities.
ADB TO APPROVE COUNTRY
STRATEGY ON APRIL 25
A special meeting of the Board of Directors of the
Asian Development Bank (ADB) will be held in Manila on April 25 to
discuss and approve new country strategy for Pakistan to offer 2.4
billion dollars for next three years.
"We have finalized our new country strategy
for 2003-2005 and we are hopeful that the ADB Board will approve it in
order to provide 2.4 billion dollars to Pakistan," said a senior
official in the local ADB office.
Dr Naveed Hamid told on Wednesday that an important
programme mission of the ADB was in Islamabad recently which discussed
the issue of increasing funding for Pakistan with all the provinces
and federal authorities. Later, he said, the mission held a wrap-up
meeting and finalized the new strategy for Pakistan.
He said a number of new development projects and
programmes will be covered under the new three-year programme. The
bank has already approved the $1 billion funding for calendar year
2002 for various development projects.
KSE SURPRISES INVESTMENT
Over the last three months — January to March
2002 — the Pakistan stock market (Karachi Stock Exchange) has
surprised many assets and investment managers in New York as it
emerged as number one performing stock market in the world as ranked
on Bloomberg analytic system.
The KSE returned 43 per cent over the last three
months, followed by Jakarta at 32 per cent in dollar terms.
EOIS INVITED FOR 51-74PC
INTEREST IN KESC
The Privatization Commission has invited qualified
investors or consortia of strategic/financial investors to submit
their expressions of interest (EoIs) for acquiring a 51 to 74 per cent
interest in Karachi Electricity Supply Corporation and assuming
The government had approved an action plan last
week for marketing the KESC in order to complete the deal by September
The financial adviser for the KESC —
Pricewaterhouse Coppers — had been directed to arrange the road
shows both in and outside the country to have a better price for the
state sector power company.
Tax revenues fell more than 3 per cent in the first
eight months of the fiscal year, partly due to duty refunds to help
exporters cope with the impact of the September 11 attacks, officials
said on Wednesday.
The revenues were 57 per cent of the government's
target for the whole year, which it had already reduced because of the
slump in the aftermath of the attacks and the war in Afghanistan.
WB CALLS FOR REMOVAL OF
SUBSIDY ON GAS
The World Bank has asked Pakistan to reduce the
number of lifeline (residential) gas consumers enjoying subsidized
fixed rates from 80 per cent to 20 per cent and withdraw Rs11 billion
gas subsidy to fertilizer industry with effect from July 1, 2002.