— 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.