Hubco row moves on
Hubco and the government of Pakistan have reached a “standstill agreement” in their long-running dispute over power tariffs for Hubco`s power plant. The agreement means that the two sides will not pursue further litigation and will instead try and resolve their dispute through negotiations.
The move signifies that the dispute may be nearing a resolution. Hubco is seeking arbitration on the government`s action of unilaterally cutting the pre-agreed tariff.