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Qaiser bagged 176 votes while his opponent Syed Khursheed Shah, the joint candidate of the opposition received 146.
The voting for the Speaker was done through secret ballot during a session chaired by outgoing Speaker Sardar Ayaz Sadiq.
Announcing the results Sardar Ayaz Sadiq said total 330 votes were polled out of which eight were rejected.
Qaiser, who remained speaker of Khyber Pakhtunkhwa Assembly during the previous PTI-led government in the province, has won the July 25 election from Swabi-I constituency of National Assembly.
Sardar Ayaz Sadiq administrated the oath from the newly-elected Speaker Asad Qaiser. He congratulated the new Speaker and expressed the hope that he would run the house proceedings in an ample manner.
He thanked the all politicians and media institutions for their cooperation during his time as Speaker of the National Assembly.
Speaker Asad Qaiser thanked all members of the assembly for having faith in him to handle the honorable position.
Meanwhile, Agha Siraj Durrani of Pakistan Peoples Party's (PPP) was elected as Speaker of Sindh provincial assembly and Mushtaq Ghani of Pakistan Tehreek-i-Insaf (PTI) was elected as Speaker of Khyber Pakhtunkhwa provincial assembly.
Durrani bagged 96 votes against Jawed Hanif of the Muttahida Qaumi Movement (MQM-P), who obtained 59 votes whereas Ghani, got 81 votes against 27 votes of Laiq Mohammad of the Awami National Party.
The election for the speakers in Balochistan Assembly and Punjab Assembly will be held on Thursday.
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