ISLAMABAD
In response to the recent reports appearing in media on the Inquiry Committee’s Report (Report) over alleged losses in the Power Sector, the Independent Power Producers Advisory Council (IPPAC) categorically rejects the allegations being attributed to such Report. The reports appearing in the media makes unsubstantiated allegations against the Independent Power Producers (IPPs), accusing them of having unfair agreements, and misappropriation in tariff and fuel consumption rates. Neither the IPPAC nor any IPP was consulted or approached in preparing of the Report or its contents. The allegations being levelled on the IPPs are ill-conceived, unfounded, baseless and disappointing, which is causing serious damage to our reputation. The IPPs have given their sweat and blood for the development of Pakistan at a time when no one was willing to invest in the country. The IPPs have empowered an uncertain economy, which had not witnessed such a sizeable quantum of Foreign Direct Investment ever in the past.—PR