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$120m outstanding against Karkay, NAB tells SC

27 November, 2012

ISLAMABAD: The National Accountability Bureau (NAB) on Monday told the Supreme Court that $120 million are outstanding against Karkay rental power plant.

During the hearing of the case of non-implementation of Supreme Court's judgement on rental power projects, NAB Director General (Operations) Shahbaz Bhatti told the court that according to calculations $120 million were outstanding against Karkay. But NAB Prosecutor General KK Agha contended that ultimately the NAB chairman has to decide the amount.

The three-member bench headed by Chief Justice Iftikhar Muhammad Chaudhry asked complainant Faisal Saleh Hayat and NAB to sit down in the Registrar's office and calculate how much amount was due against Karkay and inform the bench about it after a break. Returning from the break, Bhatti told the court that approximately $120 million were due against the Karkay power project. He told the court that the NAB statement has been prepared and countersigned by its chairman, Fasih Bukhari.

The court warned that if at a later stage the amount is increased then it shall be the responsibility of the NAB chairman to recover the increased amount. During the proceeding, the chief justice observed that Faisal Saleh Hayat has unearthed a big scam in the power sector. "This has become the deterrence for other departments, but if besides the court judgement nothing has been done then we can't do anything else." The CJP said besides civil liability there is also criminal liability in the RPPs' case.

Justice Gulzar remarked that according to the agreement the barge-mounted power plant is the property of Karkay in Pakistan, and inquired from the NAB PG that if it leaves without paying the outstanding amount then how would he recover the money. KK Agha said they would take bank guarantee from Karkay. The judge said the guarantee should be arranged inside Pakistan and not somewhere else.

The court noted that the NAB has already given an undertaking that unless the entire outstanding amount was paid, the ship would not be allowed to sail from Pakistan. KK Agha said NAB has withdrawn the undertaking, adding that under section 23 of NAO they have cautioned the Karkay management not to take the ship from Pakistan without paying entire amount. The chief justice on that note disposed of Faisal Saleh Hayat's complaint in respect of Karkay power plant.

End.

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