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.
According to NAB, the accused misused his authority by facilitating the grant of undue benefits through corrupt and dishonest means to Nishat Chunian Power Limited (NCPL) to the tune of Rs8.3 billion.
As per details, the accused was designated by NEPRA for determination of electricity tariff proposed by NCPL in 2007.
Moreover, the accused had also worked as director tariff, NEPRA and later as NEPRA director general tariff during the same period.
The accused by misuse of his authority and in alleged connivance and abetment with management of NCPL accepted fraudulent financial and technical information on account of various cost factors in order to allow fraudulent and illegal gains on the prices of electricity tariff.
Moreover, the accused willfully facilitated the false cost estimates submitted by NCPL as the same did not check the veracity of proposal given by NCPL.
It has also been transpired that the accused did not highlight the exorbitant rates requested by NCPL at the required forums. Thus, the accused in connivance with other co-accused persons caused a collateral loss worth Rs 8.3 billion to the government kitty in the wake of electricity tariff adjustment.
The NAB, Lahore officials will produce accused Ahmed before an accountability court for seeking his physical remand.
NAB, Lahore was already investigating five cases of alleged corruption in IPPs.
This year, the apex court has taken suo motu notices of excessive payments made to IPPs. The case was forwarded to NAB for further probe.