NAB arrests Nepra’s former director general

LAHORE: The National Accountability Bureau (NAB) Lahore Monday arrested former director general of National Electric Power Regulatory Authority (Nepra), Syed Insaf Ahmed for allegations of misuse of authority and offences of corruption and corrupt practices.

The accused Syed InsafAhmed was designated by Nepra for determination of electricity tariff proposed by M/s Nishat Chunian Power Ltd (NCPL) in 2007. Moreover, accused had also worked as director tariff, Nepra and later as director general tariff Nepra during the same period. The accused by misusing his authority and in alleged connivance and abetment with management of M/s NCPL accepted fraudulent financial and technical information on account of various cost factors in order to allow fraudulent and illegal exorbitant rates requested by NCPL at the required forums, whereas the accused Syed Insaf Ahmed by misusing his authority facilitated the grant of undue benefits through corrupt and dishonest means to M/s NCPL to the tune of Rs8.3 billion (approx).

Thus, the accused in connivance with other co-accused persons caused a collateral loss worth Rs8.3 billion to the national exchequer in the wake of electricity tariff adjustment. NAB Lahore will produce the accused Syed Insaf Ahmed before an accountability court today (Tuesday) for seeking his physical remand. It is also likely that during court proceedings numerous other culprits will be arrested following the revelations made by the accused.