The Federal Investigation Agency (FIA) has arrested two former chief executive officers of the Faisalabad Electric Supply Company (FESCO) in connection with an alleged Rs12 billion electricity fraud that reportedly caused substantial losses to the national exchequer.
According to officials, the arrested individuals have been identified as Khurshid Alam and Ahmad Saeed Khan, both of whom previously served as CEOs of FESCO. The arrests mark a significant development in an ongoing investigation into alleged financial irregularities within the power distribution sector.
Authorities stated that one company director was taken into custody at Lahore Airport, while legal proceedings have already begun. A local court has granted the FIA a five-day physical remand of the arrested suspects, allowing investigators additional time to question them and gather further evidence related to the case.
The investigation has expanded beyond the former FESCO officials. The FIA has registered a comprehensive case against the chief executive and five directors of two industrial companies, along with four former chief executives who are also being investigated over their alleged involvement in the matter.
Officials allege that the suspected fraud resulted in losses of approximately Rs12 billion, making it one of the major financial investigations involving Pakistan’s power sector in recent years. However, the allegations remain under investigation, and the legal process will determine the responsibility of those named in the case.
To ensure the investigation proceeds without obstruction, the authorities have placed the accused individuals on the Exit Control List (ECL). The move is intended to prevent the suspects from leaving Pakistan while inquiries and legal proceedings remain underway.
The FIA is expected to examine financial records, electricity billing data, contractual documents, and other relevant evidence as part of its investigation. Officials have indicated that additional arrests or legal action could follow if further evidence emerges during the inquiry.
Financial misconduct within public sector institutions has remained a key focus of law enforcement agencies in recent years. Authorities have repeatedly stated their commitment to improving transparency, strengthening accountability, and addressing corruption that results in losses to the public treasury.
Legal experts note that the registration of a case and the arrest of suspects do not amount to a conviction. Under Pakistan’s legal system, all accused individuals are presumed innocent unless proven guilty in a court of law.
The FIA’s investigation is expected to continue in the coming weeks as authorities work to establish the full scope of the alleged fraud and determine whether additional individuals or organizations were involved.
