NAB arrests ex-NEPRA DG for corruption - The News Observers - Business & World News

NAB arrests ex-NEPRA DG for corruption

SC proposes ‘appropriate’ amendments in NAB law

LAHORE: The National Accountability Bureau (NAB), Lahore on Monday arrested former National Electric Power Regulatory Authority (Nepra) Director General (DG) Syed Insaf Ahmed over allegations of misuse of authority and corruption.

Based on NAB, the accused misused his authority by facilitating the grant of undue advantages by way of corrupt and dishonest means to Nishat Chunian Energy Restricted (NCPL) to the tune of Rs8.three billion.

As per particulars, the accused was designated by NEPRA for dedication of electrical energy tariff proposed by NCPL in 2007.

Furthermore, the accused had additionally labored as director tariff, NEPRA and later as NEPRA director common tariff throughout the identical interval.

The accused by misuse of his authority and in alleged connivance and abetment with administration of NCPL accepted fraudulent monetary and technical info on account of varied value components to be able to permit fraudulent and unlawful features on the costs of electrical energy tariff.

Furthermore, the accused willfully facilitated the false value estimates submitted by NCPL as the identical didn’t verify the veracity of proposal given by NCPL.

It has additionally been transpired that the accused didn’t spotlight the exorbitant charges requested by NCPL on the required boards. Thus, the accused in connivance with different co-accused individuals brought about a collateral loss price Rs eight.three billion to the federal government kitty within the wake of electrical energy tariff adjustment.

The NAB, Lahore officers will produce accused Ahmed earlier than an accountability court docket for in search of his bodily remand.
NAB, Lahore was already investigating 5 instances of alleged corruption in IPPs.

This 12 months, the apex court docket has taken suo motu notices of extreme funds made to IPPs. The case was forwarded to NAB for additional probe.

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