20000208

Hubco dispute

to be resolved

soon: CE

RECORDER REPORT

KARACHI: Chief Executive General Pervez Musharraf said on Monday that the Hubco dispute would be resolved soon.

Talking to some newsmen after inaugurating the 37th annual Medical Symposium held at the Jinnah Postgraduate Medical Centre, the Chief Executive said the government had already settled six disputes with the independent power producers (IPPs) and was continuing discussions with the Hubco.

Newsmen told General Musharraf that the IPPs issue was one of the major impediments in the way of foreign investment and gaining confidence of the investors.

He said, "Six IPPs issues have been settled and the Hubco dispute would be settled soon. Discussions are continuing."

Hubco, a 1.5 billion dollars, 1,292 megawatt power plant, is at loggerheads with the Water and Power Development Authority (Wapda) over tariff for the last more than two years.