On Thursday, there were news reports that the National AccountabilityBureau (NAB) had sprung into action to look for any irregularities in theagreements signed between the government and Independent Power Producers(IPPs), which came as an unpleasant surprise to the industry players.
While NAB actively denied any reports in media that it was trying to findwrongdoing in these revised IPPs contracts, it appeared on Friday that NABhas cleared the deals after a detailed meeting with the Government’sNegotiation Committee.
NAB had written a letter to Secretary Power Division, Ali Raza Bhutta, onFebruary 10, seeking the record of agreements reached with the 47 IPPs. Theletter sought details till February 18, 2021.——————————
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Now, NAB has given the deals a green signal and has also issued a pressrelease saying that the Government Negotiation Team has briefed theChairman NAB, Javed Iqbal, at NAB headquarters about the revised contractswith 47 IPPs and concessions extracted through the recent deal with IPPs.
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The team also briefed him about an arbitration agreement clause added tothese contracts, which will determine alleged excess savings of Rs. 55billion with IPPs.
Chairman NAB appreciated the efforts of the Negotiation Team. He alsocommended the entire process, which will lead to Rs. 836 billion savingsfor the government from the remaining terms of these IPPs.
