Shahid Abdullah, a prominent Pakistani businessman and CEO of Sapphire Electric Company Limited (SECL), was prevented from traveling abroad on Friday morning. Abdullah, who was en route to Dubai via a private airline from Allama Iqbal International Airport in Lahore, was stopped at the immigration desk after his name appeared on the Exit Control List (ECL).
The Federal Investigation Agency (FIA) is reportedly investigating Abdullah for alleged involvement in money laundering. However, it remains unclear whether Abdullah has been detained or released following the incident.
This development follows Abdullah’s recent letter to Prime Minister Shehbaz Sharif, where he raised concerns about ongoing negotiations between Independent Power Producers (IPPs) and the government’s Task Force on Energy. Abdullah criticized the repeated renegotiation of sovereign power contracts, suggesting their termination and the elimination of capacity payments under certain proposals. He also refuted claims by the Task Force that the negotiations were being conducted with mutual agreement.
The Pakistani government continues efforts to renegotiate or terminate IPP contracts as part of measures to address financial challenges and improve the power sector’s efficiency.
