News
Wednesday, January 19, 2011
Techno Power returns Rs1.08 billion on SC order
Staff Report
ISLAMABAD: The counsel for Techno Energy, a Sialkot-based firm, on Tuesday informed the apex court that Rs 1082.5 million had been returned to the government for the firm’s failure to import machinery for a 150MW rental power project, despite keeping the amount for over two years.
A three-member bench consisting of Chief Justice Iftikhar Muhammad Chaudhry, Justice Ghulam Rabbani and Justice Khalilur Rehman Ramday, was hearing a suo motu of RPPs, taken on a letter by Faisal Saleh Hayat, in which he had alleged corruption in the awarding of RPP contracts. During the course of proceedings, Techno Energy’s counsel Raja Anwarul Haq presented before the court a certificate showing the payment of Rs 1082.5 million to the national exchequer. He said the company had taken Rs 780 million as mobilisation advance two years ago for a RPP, however it could not undertake the project, thus it refunded the amount with Rs 302.5 million in markup.
He said the company had some reservations over the case of refunding the money and an application had been submitted to this effect.
Courtesy www.dailytimes.com.pk