Auction of State-Owned Power Plants: Phase Two Commences

ISLAMABAD: The second phase of auctions for state-owned, outdated, and inactive power plants is scheduled to take place here on Monday, marking a significant move toward energy sector transformation and enhanced fiscal management.

According to a statement, this phase will feature the auction of three substantial power plants, boasting a cumulative capacity of 2,362 MW.

The projects available for purchase include the Thermal Power Station Jamshoro (880MW), the Thermal Power Station Muzaffargarh (1,350 MW), and the Steam Power Station Faisalabad (132 MW). The collective base price for these ventures has been set at Rs 26.62 billion.

Inefficiencies Increasing Capacity Charges Noted

The auction is being conducted with complete openness, adhering to the Government of Pakistan’s energy reform plan and following the guidelines set by the Prime Minister, the Cabinet’s Economic Coordination Committee (ECC), and the Ministry of Energy (Power Division).

The auction will be held at the GENCO Holding Company Limited office in Islamabad from 9 a.m. to 5 p.m. Previously, seven separate old thermal power plants were successfully sold in the auction’s initial phase, garnering a total bid of approximately Rs9 billion, surpassing the reserve prices.

The second phase is a step towards improved use of financial resources and the creation of new investment prospects within the energy sector. Media personnel, investors, and energy sector participants are encouraged to attend the event to support transparency.