ISLAMABAD – The National Accountability Bureau (NAB) on Saturday saidthat a news item published in a section of press about Bureau’s questionson power tariff of the National Electric Power Regulatory Authority (NEPRA)was absolutely baseless, concocted and a pack of lies.
A spokesman for the Bureau clarified that NAB Lahore was conducting onlyone inquiry into illegal and fraudulent payments allegedly made by theNEPRA officials to MS Nishat Chunian Pvt. Ltd in violation of the powerpurchase agreement signed between the government and the company.
“These alleged fraudulent payments were made on the basis of false,deceptive and misleading information provided by the company at the time ofdetermination of tariff,” he added. The spokesman further said the inquirydid not challenge any provision of the agreement reached between thegovernment and the company. “Rather it focuses only on the allegedviolations of the agreement,” he explained.
“Thus NAB has not interfered in the policy matters of the government oractions of NEPRA officials regarding execution of the agreement with thesaid company,” the spokesman clarified.
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He added the accused were trying to hush up their alleged offences bycreating an impression that NAB was challenging the agreement executed byNEPRA. The spokesman reiterated that NAB inquiry was only focused onviolations of the agreement by the company and the role of some NEPRAofficials in allowing the company to receive illegal payments.
He said it was astonishing to learn that in 2012-2013, NEPRA itself wrotetwo letters to MS Nishat Chunian Private Ltd, clearly stating that the saidcompany had received illegal payments on the basis of false and deceptiveinformation. “This proves beyond any doubt that NEPRA believed even thenthat a criminal offence had been committed, resulting in unimaginablefinancial loss to the state exchequer on account of fraudulent paymentsmade to the said company,” the spokesman said, and added, “As per the powerpurchase agreement, the company was allowed to charge only 15 percentreturn on equity in electricity tariff.
