Special Report
ISLAMABAD: In a major development, the National Accountability Bureau (NAB) has once again moved into action to investigate a high-profile scam involving billions of rupees.
The inquiry, which was initiated under the recently amended NAB Act of 2022, focuses on the payment of a staggering Rs 500 billion to favored Independent Power Producers (IPPs). This move comes as part of NAB’s ongoing efforts to combat corruption and ensure accountability in the country.
According to reliable sources, the NAB has advised the Secretary of the Power Division to provide the necessary information till July 11th. As part of its inquiry, the bureau has specifically sought details regarding the assets declared by the officials involved in the disbursement of funds to the IPPs from the Secretary Power Division. This step underscores NAB’s commitment to unraveling the truth behind this alleged fraudulent scheme.
The scandal, which dates back to 2013, revolves around the borrowing of Rs 500 billion from various banks to settle outstanding dues owed to the IPPs. The Power Division, with the assistance of Power Holding Private Limited (PHPL), secured the loan and subsequently played a significant role in distributing the funds to the favored IPPs. The NAB inquiry aims to shed light on the irregularities that may have taken place during this process, focusing on both the IPPs and the officials within the Power Division.
