IIRC, for few weeks in 2010, Wateen login system was down and I was getting unclocked speed. I measured it, it was average at 1.6Mbit to 1.75Mbit. But 1.6Mbit was consistant speed. Trust me it was a lot faster than my usual 1Mbit. There were reports that some people got near/closer to 2Mbit speed in Karachi.
As of my experience, it may be true that Wateen may not be able to give 2Mbit but even 50% increase (1.5Mbit) is a lot more than current 1Mbit.
Wateen should consider to launch new package of 1.5Mbit at reasonble price (Rs. 1800 or Rs. 2000 per month).