AGL 36.51 Decreased By ▼ -1.49 (-3.92%)
AIRLINK 216.01 Increased By ▲ 2.10 (0.98%)
BOP 9.46 Increased By ▲ 0.04 (0.42%)
CNERGY 6.59 Increased By ▲ 0.30 (4.77%)
DCL 8.50 Decreased By ▼ -0.27 (-3.08%)
DFML 40.90 Decreased By ▼ -1.31 (-3.1%)
DGKC 99.48 Increased By ▲ 5.36 (5.69%)
FCCL 36.48 Increased By ▲ 1.29 (3.67%)
FFBL 88.94 No Change ▼ 0.00 (0%)
FFL 17.17 Increased By ▲ 0.78 (4.76%)
HUBC 126.25 Decreased By ▼ -0.65 (-0.51%)
HUMNL 13.35 Decreased By ▼ -0.02 (-0.15%)
KEL 5.24 Decreased By ▼ -0.07 (-1.32%)
KOSM 6.71 Decreased By ▼ -0.23 (-3.31%)
MLCF 44.24 Increased By ▲ 1.26 (2.93%)
NBP 60.50 Increased By ▲ 1.65 (2.8%)
OGDC 222.49 Increased By ▲ 3.07 (1.4%)
PAEL 40.60 Increased By ▲ 1.44 (3.68%)
PIBTL 8.16 Decreased By ▼ -0.02 (-0.24%)
PPL 191.99 Increased By ▲ 0.33 (0.17%)
PRL 38.60 Increased By ▲ 0.68 (1.79%)
PTC 27.00 Increased By ▲ 0.66 (2.51%)
SEARL 103.50 Decreased By ▼ -0.50 (-0.48%)
TELE 8.62 Increased By ▲ 0.23 (2.74%)
TOMCL 34.86 Increased By ▲ 0.11 (0.32%)
TPLP 13.60 Increased By ▲ 0.72 (5.59%)
TREET 24.99 Decreased By ▼ -0.35 (-1.38%)
TRG 71.99 Increased By ▲ 1.54 (2.19%)
UNITY 33.33 Decreased By ▼ -0.06 (-0.18%)
WTL 1.72 No Change ▼ 0.00 (0%)
BR100 11,987 Increased By 93.1 (0.78%)
BR30 37,178 Increased By 323.2 (0.88%)
KSE100 111,351 Increased By 927.9 (0.84%)
KSE30 35,039 Increased By 261 (0.75%)

The Supreme Court issued notice to the Federal government and Wapda on the NWFP government's petition for payment of its net hydel profit share from Tarbela dam here on Wednesday.
The NWFP government had filed a petition to seek implementation of the award given by an Arbitral Tribunal, headed by former Chief Justice Ajmal Mian on 9.10.2006. According to the award Wapda was to make payment of Rs 22 billion to NWFP, on 09.01.2007 as the first tranche out of its net hydel profit share of Rs 110 billion. However, on 12.12.2006, Wapda took up the case in the court of Civil Judge Islamabad and served a notice upon the NWFP government pleading that the validity and affect of the award need to be determined by the court.
Presenting his argument in the Apex Court counsel for NWFP government Abdul Hafiz Pirzada maintained that the award rendered by the Arbitral Tribunal is final and binding on all three parities and that the proceedings initiated by Wapda in civil court Islamabad under Section 14 of the Arbitration Act are of no legal effect.
He said the Civil Court Islamabad has wrongfully assumed the jurisdiction and the dispute can only be resolved by the Supreme Court which has an exclusive original Constitution jurisdiction under Articles 184 (1) to adjudicate upon dispute between the Federal, Wapda and the provincial government.
He further pleaded that the Federal Government and Wapda are jointly liable to pay the Net Hydel profit as computed and determined in the mode and manner by the award on 09.10.2006.
He said the Constitution of Pakistan entitles the government of NWFP to receive the Net Hydel Profit, in entirety with the corresponding obligation of the Federal Government and Wapda to pay the same as per article 161 (2) of the Constitution. In the notices, the court directed the Federation and Wapda to submit their reply in two months time.

Copyright Business Recorder, 2007

Comments

Comments are closed.