— File Photo

ISLAMABAD: The National Accountability Bureau (NAB) will serve a fresh notice on a ship-mounted Turkish power plant Karkey within a couple of days for recovering $120 million as directed by the Supreme Court.

“We will serve a fresh notice on Karkey in two days,” NAB’s spokesman Zafar Iqbal told Dawn on Tuesday.

The amount will be recovered on the court’s order in the Rental Power Projects (RPPs) case in which nine firms, including Karkey, were accused of having received advance payment from the government for installation of power plants but they failed to provide electricity to the national grid within the stipulated time and, thereby, causing a loss to the exchequer.

Karkey was accused of obtaining $79 million (Rs7.55 billion) as mobilisation advance from the government for setting up of power plant to supply 232 megawatts to the national grid under the RPPs plan.

The NAB and Turkish firm reached an agreement on October 30 this year under which the bureau gave a clean chit to Karkey for leaving the country after paying Rs1.62 billion.

But the Supreme Court in its verdict on Monday rejected the agreement and directed NAB to recover $120 million (Rs11.4 billion), instead of Rs1.62 billion.

“Actually our agreement with Karkey was subject to the approval of the Supreme Court and as the apex court has rejected the agreement NAB will act accordingly,” the spokesman of the bureau said.

He said NAB officials were recalculating the outstanding dues in consultation with the officials of Pakistan Electric Power Company (Pepco) so that the exact amount could be recovered from Karkey.

The Turkish firm is facing the RPPs case in the Supreme Court which is being investigated by NAB. Prime Minister Raja Pervez Ashraf is one of the accused in the case.

Opinion

Disrupted rhythms of the Indus
18 Jun 2021

Disrupted rhythms of the Indus

The glaciers, the monsoon, the snowmelt and the aquifers evolved over millions of years and created one of the most reliable
Quest for truth
18 Jun 2021

Quest for truth

News travels quickly and without any editorial checks.
Controversial poll reforms
Updated 17 Jun 2021

Controversial poll reforms

If govt doesn’t engage opposition in dialogue, its last two years may be spent in dealing with a controversy over electoral laws.

Editorial

18 Jun 2021

Poll bill reservations

THE Election of Commission of Pakistan has expressed serious reservations about the electoral reforms bill bulldozed...
18 Jun 2021

E-fund transfer fee

THE State Bank’s decision to withdraw the facility of free of cost digital fund transfer services is disappointing...
18 Jun 2021

Gaza bombed again

MEMORIES of last month’s savage assault by Israel targeting Gaza had not yet faded when earlier this week news...
Shameful behaviour
17 Jun 2021

Shameful behaviour

Both opposition and treasury members should create space for opinions to be heard and aired.
17 Jun 2021

Sindh budget

A CURSORY reading of the Sindh budget 2021-22 reinforces the impression that Chief Minister Murad Ali Shah’s...
17 Jun 2021

West on China

IN what seems like a distinct return to Cold War rhetoric, the Western bloc has issued back-to-back statements...