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Former DG NEPRA held in IPPs scam

LAHORE:National Accountability Bureau (NAB) Lahore arrested former director general of National Electric Power Regulatory Authority (NEPRA) Syed Insaf Ahmed, over allegations of misuse of authority and corrupt practices.

According to NAB spokesman, accused Syed Insaf Ahmed was designated by NEPRA for determination of electricity tariff, proposed by M/s Nishat Chunian Power Limited (NCPL) in year 2007. The accused also worked as Director Tariff, NEPRA and later as Director General Tariff NEPRA during the same period.

The accused misused his authority and, in alleged connivance and abatement of the management of M/s NCPL, accepted 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 M/s NCPL as the same did not check the veracity of proposals given by M/s NCPL. It has also been transpired that the accused did not highlight the exorbitant rates requested by the NCPL at the required forums, whereas, the accused, by misusing his authority, facilitated the grant of undue benefits through corrupt and dishonest means to M/s NCPL to the tune of Rs 8.3 billion (Approx).

Thus, the accused caused a collateral loss worth Rs 8.3 billion to the government in the wake of electricity tariff adjustments.

NAB Lahore officials would produce the accused, Syed Insaf Ahmed, before an accountability court for seeking his physical remand.