ISLAMABAD – The Supreme Court on Friday gave another deadline to Techno Energy, a Sialkot-based firm, to refund a mobilisation advance of Rs 780 million along with a mark up by January 17 for its failure to import machinery for a 150MW rental power project despite keeping the amount for over two years.
A three-member bench of Chief Justice Iftikhar Muhammad Chaudhry, Justice Ghulam Rabbani and Justice Khalilur Rehman Ramday, was hearing a suo motu case involving allegations of corruption in the contract of Rental Power Projects (RPPs). Earlier, on Thursday, the court had ordered the firm to refund the amount (Rs 780 million) with the mark up by Friday, but the firm failed to comply with the orders and informed the court that the amount could not be returned.
The court, thus redirected the firm to return the amount until 12 pm (Friday) and submit a compliance report. After 12 pm, Raja Anwarul Haq, counsel for the firm, told the court that the chief executive officer of the company was in Dubai from where he had to send the payment, but there was a public holiday in the banks there so the transaction could not be made. The court then directed the firm to refund the money with mark up by Monday and in case of failure to do so, the passport of the firm’s owner would be confiscated and he would be arrested.
