NAB arrests former CEO NTDC

LAHORE: National Accountability Bureau (NAB), Lahore, Thursday took into custody former Chief Executive Officer, National Transmission and Dispatch Company (NTDC), Rasul Khan Mahsud on the charges of causing a loss worth Rs13.270 billion to national exchequer by misusing the authority.

According to a NAB spokesman, accused Rasul Khan Mahsud remained Pepco Managing Director (MD) from 2010 till 2012 and allegedly by misusing his authority had attempted to hamper the investigation officers by misguiding through providing excel sheets of estimates prepared for manufacturing and procurement of hundreds of transformers. Moreover, he said, the accused approved tenders over exaggerated rates and this criminal act on the part of Rasul Khan Mahsud caused a loss worth Rs13.270 billion to national exchequer.

NAB Lahore had filed against the accused a corruption reference in Accountability Court in December 2015. NAB Lahore has acquired until April 3, 2018, his physical remand from the court concerned.