ISLAMABAD: An embezzlement worth over Rs 50 billion has been revealed in Ministry of Water and Power while top officials including WAPDA chairman and Water and Power secretary involved in the mega corruption. According to secret documents presented in Public Accounts Committee (PAC), the WAPDA chairman and Water and Power secretary could not take back a loan more than Rs 50 owed by KEPCO since two decades. These officials also accused of giving benefits to private companies overstepping their powers. According to documents, Water and Power secretary has issued additional grant worth billions of rupees to KEPCO despite the company did not return a loan more than Rs 50 billion. In 1996, KEPCO had taken loan from different sources on guarantee provided by the government of Pakistan but in 2002, the ministry top officials made amendment in loan-agreement to give benefit to the company. The government as a guarantor paid interest on loan taken by KEPCO from national exchequer. This year on January 19, Finance Ministry inquired the Water and Power secretary about this issue who announced his disconnection with the issue advised to send the matter to Public Accounts Committee.
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