Rental power plants: SC orders company to return advance payments

Chief Justice Iftikhar Muhammad Chaudhry said the judiciary will not allow people to waste the nation's wealth. PHOTO: EPA

ISLAMABAD:?Walters International Power Company, accused of relocating the machinery of Guddu Power Plant to Naudero-2 Power Plant, agreed on Wednesday to return Rs2 billion to the government of Pakistan.

Chief Justice Chaudhry Iftikhar was hearing the rental power projects fraud case after taking suo moto notice of the irregularities in payments based on a report published in The Express Tribune.

The Supreme Court ordered the company to return the?advance, which is worth millions of dollars, within 24 hours and the hearing of the case has been adjourned till December 14.

The case surfaced when NEPRA came to know that Walters?International had relocated the machinery of Guddu Power Plant to Naudero-2 Power Plant. The company took an advance on the same machinery, twice.

The company’s lawyer Barrister Shahid Hamid says?that the advance money will be returned.

This article has been revised to reflect the following correction:

Correction: December 8, 2010

The company Walters International Power Limited was misspelt as Valters International in an earlier version of the article.

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NICL scam accused wants to return looted money

Habibullah Warraich requests NICL to allow him to return looted money.

ISLAMABAD:?Habibullah Warraich, one of the accused in the National Insurance Company Limited (NICL) scam, requested the company on Wednesday to allow him to return the money looted in installments.

Warraich, a former state defence minister, is accused of embezzling Rs1.68 billion from the company funds. He was charged with selling 800 kanals to the NICL at inflated rates.

He was arrested on October 31 from his residence for the corruption charges after which his assets, worth an estimated Rs1.2 billion were frozen.

The FIA has also issued a warrant against his son, Mohsin Warraich, for making kickbacks.

An official from the FIA said that the Interior Ministry will be requested to contact the Interpol for the arrest of Mohsin Warraich.

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