Electricity Purchase Scam: Two Former FESCO Chiefs Arrested Over Rs11.96 Billion Loss Claim

The Federal Investigation Agency (FIA) has arrested two former chiefs of Faisalabad Electric Supply Company (FESCO) over alleged irregularities and forgery in electricity procurement deals. According to the registered case, the accused officials caused an estimated loss of Rs11.96 billion to the national exchequer through unauthorized and costly electricity purchase agreements.

The FIR states that former FESCO chiefs Khursheed Alam and Saeed Akhtar entered into electricity purchase agreements without approval from the National Electric Power Regulatory Authority (NEPRA). It further alleges that FESCO officials purchased electricity at rates higher than the company’s approved tariffs, resulting in significant financial losses.

The case reportedly involves five former FESCO chiefs, along with names of a former NEPRA vice chairman, former additional director general and deputy registrar. The FIA has launched a formal investigation against the officials allegedly involved in the matter, while further legal action will be taken based on the findings of the inquiry.