ISLAMABAD - Noting serious lapses on part of Karkey Karadeniz Electric Uretim in fulfilment of its commitment to provide 200 mw power supply to Pakistan, National Accountability Bureau (NAB) sprung into action to retrieve US $80 million taken by the Turkish company as advance payment.Sources in the department informed The Nation that NAB nowadays was looking into the irregularities in the accounts of the Rental Power Producers on the directives of Supreme Court and the case of Karkey Karadeniz Electric Uretim is also in the process of settlement, as the company fell short of its agreement with the Private Power and Infrastructure Board (PPIB) to provide 200 mw power to Pakistan.In this particular case, Supreme Court, on finding irregularities and violation of set rules in award of the contract directed rescinding of the contract with the company and directed NAB to recover the money already given to the company.The sources further informed that the investigation team apart from placing the assets of the company in Pakistan under watch also marked caution on the company’s ship to move out from the country’s sea limits till the time the matters with the company are not settled.On the call of the NAB investigation team, the company’s representative appeared before the team and sought time to consult the company’s directors on the whole matter and now would appear before the NAB team on Monday (today), sources further informed.Sources further said that it was interesting to note that on one hand the Karkey Maradeniz Uretim representative agreed to pay back the whole liability while on the other hand using various tactics to get off the hook of NAB authorities and even using the diplomatic channels to pressurise NAB officials to free the company’s ship to move out from Pakistan before the settlement of its accounts.During the course of investigation, the Karkey’s representative admitted company’s failure of falling short of its commitment under the agreement to provide 200 mw whereas it could only able to add just 60 mw to the national grid and that too beyond the given time limit.Giving details of the agreement between the PPIB and Karkey Karadeniz Electric Uretim the company was to provide 200mw power to Pakistan at the rate of US 5.98 cent per unit for a period of five years.The Rental Service Contract was signed on Dec. 5, 2008 while the advance of US $ 80 million was provided to the company in May 2009 while the original Commercial Operation Date (COD) was fixed as August 14, 2009, which was revised to Dec. 8, 2009 and then further extended to April 7, 2010.The company was to achieve the Commercial Operate Date (COD) within six months time while it had achieved COD in 11 months and instead of providing 200 mw as agreed just produced 60 mw.In RPPs case, which was referred to NAB by the Supreme Court for recovery of money already given to various companies under dubious and shady deals, the bureau has started recovery and in last month alone Rs 250 billion has been recovered from various companies and more recoveries are in the pipeline.

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