ISLAMABAD: In a bold stride towards energy sector reform and fiscal efficiency, the second phase of the auction of state-owned old and non-operational power plants will be held here on Monday.
In this phase, three large power plants with a total capacity of 2,362 MW will be put up for auction, said a press release.
The projects being offered for sale included Thermal Power Station Jamshoro (880MW), Thermal Power Station Muzaffargarh (1,350 MW), and Steam Power Station Faisalabad (132 MW). The combined reserve price for these projects has been fixed at Rs 26.62 billion.
Inefficiencies hiking capacity charges highlighted
The auction process is being carried out with complete transparency in the light of the government of Pakistan’s energy reform agenda, and in line with directives of the Prime Minister, Economic Coordination Committee (ECC) of the Cabinet, and the Ministry of Energy (Power Division).
The auction will take place at the office of GENCO Holding Company Limited, Islamabad from 9 am to 5 pm. It should be noted that seven different old thermal power plants have been successfully sold in the first phase of the auction, with a total bid of about Rs9 billion, which was higher than the reserve prices.
The second phase of the auction is not only a step towards better utilisation of financial resources but it will also create new investment opportunities in the energy sector. Media representatives, investors, and energy stakeholders are invited to attend the event to ensure transparency.
