NAB clearance delaying agreed payments to IPPs: sources
- By Web Desk -
- Mar 30, 2021
ISLAMABAD: The federal government has rejected an impression of default with IPPs over agreed payments to them as sources claimed that the delay was made after the National Accountability Bureau (NAB) is taking its time to give a nod to it, ARY NEWS reported.
According to sources within the government, the hue and cry raised by some of the independent power producers (IPPs) were aimed at pressuring the government and create an impression of default.
The officials who wished not to be named said that the payment would be cleared as soon as the NAB authorities would give clearance on the payment summary.
The IPPs that would be receiving payments are owned by Razak Dawood, Nadeem Babar, Mian Mansha, Saif group and others. These IPPs have earned billions from the country during the past two decades.
The government said that it has not declined payments to the IPPs, however, it awaits clearance from NAB in this regard in order to implement upon procedures to avoid any legal hitches in the future.
On February 18, the NAB announced that it was not investigating renewed IPP agreements by the incumbent government.
The announcement from the accountability watchdog came after a government team involved in the IPP agreements met with Chairman NAB Justice (retd) Javed Iqbal.
Read More: ECC approves agreements with 46 IPPs, supplementary grant to FBR
A NAB handout detailing the entire meeting said that the government team apprised the chairman regarding the renewed agreements with 47 independent power producers (IPPs). The team apprised that the agreements will help in return of Rs55 billion of an additional amount from the IPPs.
“The idea for negotiations with the IPPs was floated by the NAB,” said the handout adding that they had pointed out the weaknesses in the agreements finalized by the previous government.
The chairman lauded the role of the government team and said that the upgradation of agreements with the power producers would also help in saving Rs836 billion from the national exchequer.