Government report on electricity concessionaire agreement has revealed over $12 million allegedly paid by Power Distribution Services (PDS) as guarantee was not received by the Qatari insurance firm Al Koot.

This is contrary to a MiDA commissioned investigation which found no evidence of fraud.

Read: PDS has not been cleared Deputy Information Minister

It can be confirmed that government's delegation sent to Qatar to verify the $12.25 million demand guarantee posted by PDS found Qatari insurance firm Al-Koot, did not issue a valid guarantee on behalf of PDS.

This is contrary to a Millennium Development Authority commissioned investigation which seeks to clear PDS of any wrongdoing.

Read: President, Gabby played no role in PDS — PDS Chairman

Government suspended the concession agreement with the electricity distributor on July 30 after it found breaches in the demand guarantee.

The five-member committee tasked to look into the matter also found the insurance officer who supposedly forged the signature of the Chief General Insurance Officer at Al-Koot had been suspended and may face prosecution.

Source: Myjoyonline.com