Construction of power plants

[Lahore_Real_Estate]

Two companies return Rs 2 billion advance

ISLAMABAD: The Supreme Court was on Wednesday informed that the Walters Power International and Pakistan Power Resources (PPR) has returned the total amount of Rs 2 billion, which it had taken as advance for establishing the Guddu and Nodero-II power projects.

Both companies have submitted the compliance report in the apex court for the return of the total amount, which had been taken in advance for establishing the power projects.

The court directed the Abdul Malik Memon, the CEO of GENCO, conduct an inquiry for fixing responsibility upon the officers/officials or the persons on whose instructions GENCO agreed to make the payment to both companies without considering the facts and circumstances, and submit a report on the next date of hearing.

A three-member bench of the apex court, headed by Chief Justice Iftikhar Muhammad Chaudhry, was hearing the suo moto case regarding the alleged corruption in rental power projects.

The hearing was adjourned until December 14.