ISLAMABAD: The Walters Power International and its Pakistani associate Pakistan Power Resources (PPR) headed by Iqbal Z Ahmed, promised the Supreme Court on Wednesday they would repay in full the mobilization advance along with interest to the government’s Central Power Generation Company Ltd, which is said to give electricity production contracts and regulate them.
Both the companies were directed by the SC to repay the advance after detection of fraud by National Electric Power Regulatory Authority (NEPRA), in the commissioning of two rental power plants (RPPs) to be installed by them at Guddu and Naudero.
The bench was hearing a case of payment fraud regarding Rental Power Projects (RPPs) detected by NEPRA, as well as alleged corruption in Rental Power Projects. Syed Najamul Hassan Kazmi, appeared on behalf of NEPRA. The lawyers for the Guddu and Naudero projects submitted a written assurance to the three-member SC bench that their clients would return Rs 2 billion they received in advance, with mark-up.
The bench of Chief Justice Iftikhar Muhammad Chaudhry, Justice Ghulam Rabbani and Justice Khalilur Rehman Ramday said: “Everybody should follow suit on matters of the national exchequer.”
Dr Pervez Hasan, counsel for Pakistan Power Resources (PPR) and Shahid Hamid, counsel for Walters Power International, informed the court that the sum mentioned in the statement had been arranged and would be returned to CPGCL during the course of the day (Wednesday).
The court directed Abdul Malik Memon, CEO of the generation company, to conduct an inquiry into the case and submit a report at the next hearing determining responsibility for the instructions on which it agreed to pay both the companies without considering facts and circumstances.
According to the statements they made in court, PPR and Walters Power International had already paid Rs .405, 992, 246 and would pay the remaining Rs 301,058,766 by the time Wednesday was out. PPR is also paying Rs 120,000,000 on account of interest/markup on advance payment, while WPI told the court that advance payment of US$ 11,036,666 and US$ 180,753 in interest were being paid.
The court adjourned the case for the 14th of December.
Shady rental power deal – SC makes PPR return advance with interest
