NAB looking for ‘wrongdoing’ in altered deals with IPPs Top Story February 18, 2021 ISLAMABAD: In an unexpected development, the National Accountability Bureau (NAB) has swung into action and started staring down with ‘doubt’ at the conversion of MoUs into altered contracts, starting from signing of MoUs with 47 IPPs up to the signing of amended power purchase agreements (PPAs) to look for ‘any wrongdoing.’ And to this effect, the anti-graft body wrote a letter to secretary power on February 10, seeking details till today (Thursday) about the MoUs, amended Power Purchase Agreements and ask for rationale to invoke local arbitration on excess profit of Rs53 billion. “This move from the NAB has made the top mandarins of Power Division jittery, who fear if the entire exercise would materialize or not,” a senior official privy to the development confided to The News. “The NAB may look into the process for any deviation from MoUs. In the MoUs signed on August 12, 2020, there is no mention of local arbitration tribunal to resolve the excess profits by 13 IPPs. Rather, it mentions that NEPRA will decide the issue through due diligence.”