ISLAMABAD: An accountability court in Islamabad cleared former prime minister and National Assembly Speaker Raja Pervaiz Ashraf of charges in several National Accountability Bureau (NAB) cases related to rental power projects.
According to the details, Judge Ali Warraich announced the decision, clearing Ashraf and others in the Sharaqpur, Bhakki, and Karkey cases. The Karkey case involved claims of Rs22 billion in corruption, and the Karkey company had sought Rs200 billion from Pakistan. Ashraf and 11 others were cleared in this case.
In the Sheikhupura case, linked to the Rs96 billion Bhakki power plant, the former Wapda chairman and six others were also cleared, along with those named in the Sharaqpur case.
This is not the first time Ashraf has been cleared in such cases. In 2020, he was cleared in the Pira Ghaib rental power plant case.
Karkey Rental Power Project;
The Karkey Karadeniz Elektrik Uretin (KKEU) was one of 12 rental power companies contracted by the PPP government in 2008-09 to address the power shortage.
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The company failed to deliver the promised electricity and later took Pakistan to the International Centre for Settlement of Investment Disputes (ICSID), which imposed a $1.2 billion fine in 2017. The issue was later resolved.
With help from Turkish President Recep Tayyip Erdogan, the $1.2 billion fine was waived. In 2009, the PPP government signed a deal with Turkey to supply electricity, awarding contracts to nine rental power firms, including Karkey.
The Pakistan Electric Power Company (Pepco), under the Ministry of Power and Water, signed a $564.6 million contract with Karkey to provide 231 megawatts of electricity in Karachi.
The project failed to deliver affordable electricity, costing Pakistan $9.4 million monthly. The government guaranteed the contract, leading Karkey to approach ICSID over a breach of agreement.
