LAHORE: The National Accountability Bureau (NAB) on Monday arrested former National Electric Power Regulatory Authority (NEPRA) director general Syed Insaf Ahmad in an alleged mega-corruption case of Rs300 billion payment to Independent Power Producers (IPPs).
According to reports, the national exchequer suffered a huge loss due to Syed Insaf Ahmad’s action of transferring an extra Rs8 billion to IPPs over the years.
NAB officials told media that billions of rupees, which were illegally transferred to some specific companies, caused a direct impact on the domestic economy and electricity prices in the country.
NAB will present the former NEPRA official before the accountability court and will seek his physical remand.
