IPPs have sucked people's blood for 14 years: Gohar Ejaz

LAHORE: Former caretaker minister Gohar Ejaz has said that the Independent Power Producers (IPPs) have sucked the blood of people for last 14 years, ARY News reported on Saturday.

Talking here Gohar Ejaz said that the IPPs were selling their oil in the market and showing the consumption different from the actual oil utilization.

Gohar Ejaz said that the government and the establishment have taken the issue of the IPPs seriously.

He said there is no problem in the economy, the actual problem is mis-conceived policymaking.

Former minister said that the policy of devaluation of the currency brings more price hike, it doesn’t benefit the industries or exporters. “The country will progress when the price hike comes under the control,” he said.

He also called the State Bank of Pakistan and the Ministry of Finance to bring down the interest rate to nine percent.