Govt Receives Poor Response to auction Three Power Plants
STAFF REPORT:
ISLAMABAD: Pakistan’s second phase of auctioning outdated state-owned thermal power plants yielded a disappointing outcome on Monday, with only one bidder coming forward for a single plant while others failed to attract any interest.
The 880-megawatt Jamshoro Thermal Power Station (GENCO-I) was the only plant to receive a technical bid, submitted by Siddeeq & Sons. The government had set a reserve price of Rs9.97 billion for this asset.
Meanwhile, government did not receive any bid for two major facilities under GENCO-III—Muzaffargarh Thermal Power Station (1,350 MW) and Faisalabad Steam Power Station (132 MW).
These power plants amounted a reserve price of Rs26.62 billion, with a total generation capacity of 2,362 MW.
Officials confirmed the lack of interest from investors despite marketing efforts and expectations of broader participation.
Meanwhile, the bidding process for other plants under GENCO-II, including Guddu Thermal Power Plant and TPS Quetta, has been postponed. These assets will now be offered on May 30 in a separate round. The delay comes amid a need for more investor outreach and clarity on the terms of sale.fire in 500 kv jamshoro power plant
GENCO CEO Sabiha Uz Zaman Farooqi acknowledged the limited outcome and said that the auctioning of outdated power assets was always expected to proceed in phases due to the age and condition of the plants. The process is technically complex, and investor appetite varies depending on plant location, efficiency, and future viability, he said.
In the first phase of the auction which was held earlier, the government had been able to sell seven thermal plants for Rs9.05 billion.
The reserve price amounted to Rs8.07 billion. These power plants included units in Kotri, Larkra, Sukkur, and four in Multan and Faisalabad. NESPAK, a state-owned engineering consultancy firm, is assisting in the technical evaluation and bidding process.
