Shahid Abdullah, a notable Pakistani businessman and CEO of Sapphire Electric Company Limited (SECL), was stopped from flying abroad on Friday morning.
Abdullah, the proprietor of an independent power plant (IPP), was to depart from Lahore’s Allama Iqbal International Airport on a private airline for Dubai. However, his journey was halted at the immigration desk when officials discovered his name on the exit control list (ECL).
Abdullah had been the subject of an investigation by the Federal Investigation Agency (FIA) for alleged money laundering. It is uncertain whether he is currently being held in custody or has been granted permission to depart.
This incident occurs immediately following Abdullah’s letter to Prime Minister Shehbaz Sharif, in which he expressed grave apprehensions regarding the ongoing negotiations between the government’s Task Force on Energy and IPPs.
In the letter, Abdullah criticized the forced renegotiation of sovereign power contracts saying that this marks the fourth time such contracts have been reopened for discussions. He proposed ending capacity payments and terminating the agreements if his conditions were met, countering the Task Force’s assertion that these talks are being conducted with mutual agreement.
The government continues efforts to renegotiate contracts with IPPs to tackle financial strain and revamp the power sector.
