FAISALABAD
FIA has arrested two former Chief Executive Officers (CEOs) of FESCO at Lahore airport in alleged Rs 12 billion power sector corruption scandal.
CEO private mills Mian Idrees was detained at Lahore Airport and was sent to his home.
The accused are charged with causing loss of 12 billion rupees to the national exchequer by making illegal change in the system of sale and purchase of electricity in collusion from 2007 to 2015.
The case has been registered as FIR No. 35/2026 at the FIA Composite Circle Faisalabad under Section 5(2)/47 of the Prevention of Corruption Act, along with multiple provisions of the Pakistan Penal Code, including Sections 34, 109, 409, 419, 420, 467, 468, and 471. against 5 directors including Mian Idrees, Mian Javed,, Mian Imran and chief executive officers of Sitara Energy Limited (SEL) and Messers Sitara Chemical Industries Limited.
Case has been registered against four former chief executive officers of FESCO.
As per investigation Sitara group of industries in collusion with some senior officials of FESCO committed irregularity in sale and purchase of electricity through SEL and SCIL.
SEL allegedly sold out electricity to FESCO on higher rate against the approved rate of CPPA. Likewise electricity was provided to bulk power consumers at lower rate.
On the other hand SEL allegedly purchased electricity at concessional rate from FESCO and took undue advantage.
The investigation revealed that the private mills used misleading and forged documents to obtain gas at subsidized rate and other benefits by showing them as Capto Power Plant (CPP) before Sui Northern Gas Pipelines Limited (SNGPL) and Small Power Producer (SPP) before National Power Regulatory Authority (NEPRA)
Industrialist Mian Idrees hailing from Faisalabad has also been prevented from going abroad. However he has not been arrested.
During the investigation former chief executive officers Khurshid Alam and Ahmad Saeed Khan have been arrested.
The court has approved 5 days physical remand of both the accused persons so that more evidence could be collected and the investigation could be taken to logical end.
The other accused have been prevented from going abroad till the completion of the investigation.
Further investigation is underway and raids are being conducted to arrest the other accused persons.
