ISLAMABAD: The second phase of Pakistan’s auction of outdated state-owned thermal power plants delivered disappointing results on Monday, with only one bid submitted for a single plant and no interest shown in two others.
The 880-megawatt Jamshoro Thermal Power Station (Genco-I) attracted the lone technical bid, submitted by Siddiqsons, against a reserve price of Rs9.97 billion. In contrast, no bids were received for the Muzaffargarh Thermal Power Station (1,350 MW) and the Faisalabad Steam Power Station (132 MW), both part of Genco-III. The total reserve price for the three plants stood at Rs26.62 billion, with a combined generation capacity of 2,362 MW.
Officials confirmed the lack of investor participation despite concerted marketing efforts and expectations for broader interest.
Meanwhile, the auction for assets under Genco-II — including the Guddu Thermal Power Plant and the Thermal Power Station Quetta — has been postponed to May 30. The delay aims to allow more time for investor engagement and improved clarity around the sale process.
Genco CEO Sabeehuz Zaman Faruqui acknowledged the limited response, noting that the phased auction approach was intentional due to the plants’ age, condition, and varying investor interest based on efficiency, location, and future viability.
In the earlier first phase, the government successfully sold seven thermal plants — located in Kotri, Lakhra, Sukkur, Multan, and Faisalabad — for Rs9.05 billion, surpassing the reserve price of Rs8.07 billion.
National Engineering Services Pakistan (Nespak) is overseeing the technical evaluations and bidding processes.
