NAB will be responsible if power company goes without paying liabilities: Supreme Court

The Supreme Court on Monday said that the chairman National Accountability Bureau (NAB) would be responsible if the ship-mounted Karkey Karadeniz Elek trik Uretin power plant released without paying the liabilities.

A three-member bench of the apex court headed by Chief Justice Iftikhar Mohammad Chaudhry resumed the hearing over return of the Karkey rental power project.

The bench concluded the hearing of Pakistan Muslim League-Quaid (PML-Q) lawmaker Makhdoom Faisal Saleh Hayat plea pertaining to financial irregularities in the purchase of rental power plants (RPP’s).

During the hearing, NAB’s prosecutor general informed the court that as per agreement the advance amount was 14 percent whereas seven percent of the amount had been recovered.

Chief Justice Iftikhar, while giving his remarks, said that the RPP’s had been declared illegal by the court, and that the court had ordered for the shutting down of RPP’s along with the return of advance payments made.

He further said that the ship-mounted power plant would be released after submission of guarantee adding that the guarantor should be someone who is able to pay off the liabilities.

Earlier, the NAB has directed the Maritime Security Agency and Port Qasim authorities to prevent the rental power plants Karkey from crossing the Pakistani sea limits.

NAB had earlier allowed the four Karkey ships to leave the country but according to the SC order, M/s Karkey has to refund the advance and other pending amounts due to which the rental power plants have now been barred from leaving the country.

The Transparency International had reported a mega corruption scandal of the present times to the prime minister in which the NAB allegedly cleared one of the rental power plants without recovering $220 million from it.

The corruption watchdog had requested Prime Minister Raja Pervez Ashraf to take notice of this huge embezzlement done in connivance with the NAB where M/s Karkey RPP has been allowed to leave Pakistan without paying the recoverable money.

Interestingly, the name of PM Ashraf was also among the accused persons in the RPP cases. Transparency has warned that if M/S Karkey were allowed to leave Pakistan, then all recovered amount in the RPP case would have to be refunded to others as well.

Short URL: https://www.newspakistan.pk/?p=35361

Posted by Faisal Farooq on Nov 26 2012. Filed under Latest News, National, Pakistan. You can follow any responses to this entry through the RSS 2.0. You can skip to the end and leave a response. Pinging is currently not allowed.