ISLAMABAD – The Supreme Court was informed on Tuesday that Techno Energy, a Sialkot-based firm, had deposited Rs 1,082.5 million in the national exchequer for its failure to import machinery for a 150MW rental power project despite keeping the amount with it 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 initiated on an application by PML-Q’s Parliamentary Leader in the National Assembly Faisal Saleh Hayat against alleged fraud of billions of rupees in payments to rental power projects (RPPs) detected by National Electric Power Regulatory Authority (NEPRA). Appearing on notice, Techno Energy’s lawyer Raja Anwarul Haq presented before the court a certificate of Rs 1,082.5 million deposited in the national exchequer. He said the company had taken Rs 780 million mobilisation advance two years ago for a rental power project, however, it could not undertake the project, thus it refunded the amount with Rs 302.5 million mark-up. He however said the company had some reservations over the case of refund of money and an application had been submitted to this effect, thus he should be heard. The chief justice told him that submitting application was his right and he would be heard. The court was also informed that Rs 18 billion mobilisation advance was given to nine rental power companies and of them, four RPPs had returned Rs 4 billion. It was also informed that Rs 1.26 billion had been recovered by cashing bank guarantees furnished by Young Gen for its failure to commence commercial operation of a rental power project. Later the court adjourned proceedings until February 2. Earlier, on orders of the court, the Walters Power International (WPI), which had a contract to install the 50MW Naudero-II RPP, and the Pakistan Power Resources (PPR) headed by Iqbal Z Ahmed, which was supposed to install an 110MW plant, had refunded $21.43 million mobilisation advance to the government for their failure to undertake the projects.
