The row between Turkish Power Company Karkey Karadeniz Electric Uretim and the National Accountability Bureau (NAB) has been settled after the former agreed to return $20 million for its failure to provide the promised 200MW of electricity. As reported in the press the power company used diplomatic channels to try to ensure the return of its ship to home ports, after it was moored at theKarachiport as part of a rental power project. Alongside, the Turkish company was also considering the option of seeking the International Court of Arbitration’s intervention in response to the legal action initiated by NAB. But since it had fallen short of its target of electricity generation and was only able to generate a paltry 60MW, the company may have thought better of dragging the case through theICA. As $20 million is not the entire sum the company received as advance; the remaining $60 million is to be accounted for by the NAB.

The case offers a glaring example that confirms the Supreme Court’s concern over how the rental power plants may have been unscrupulously acquired. Given the great loss to the taxpayers’ money — that otherwise could have been spent to increase power generation by a great margin — it stands to reason that a thorough probe is initiated and severe action taken against the culprits. NAB has hinted that it will be carrying out investigations. One hopes that it will impartially bring to book all those responsible for causing huge loss to the economy.