NAB chief briefed on 47 revised IPPs contracts

ISLAMABAD: The government negotiation team briefed Chairman National Accountability Bureau Justice (Retd) Javed Iqbal about the revised contracts of 47 IPPs and concessions extracted from recent deal with IPPs. The team also briefed about arbitration agreement clause made in these contracts which will determine alleged excess savings of Rs. 55b with IPPs.

Chairman NAB Justice (Retd) Javed Iqbal appreciated the efforts of the negotiation teams and the whole process which extracted Rs. 836b saving from remaining terms of these IPPs. It is worthwhile to mention here that the idea of negotiation was floated by NAB in view of some weaknesses found in the IPPs agreements made by the previous governments.

According to NAB Thursday, the strategy of NAB proved beneficial which resultantly brought savings of billions of rupees to the Government of Pakistan. NAB reiterated its firm commitment to resolve the issues of top priority for development of the country in the national interest. NAB absolutely denied the reports in a few media circles that NAB is finding wrongdoings in the revised IPPs contracts.