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The Ministry of Energy on Monday received a poor response from the private sector in its latest attempt to sell three government-owned power plants commonly known as GPPs, receiving a bid for only one of the facilities.
State-run power generation companies (GENCOs) have now initiated the second phase of a phased auction process for old and non-operational power plants. According to an official statement, under the directives of the Power Division, this initiative aims to offload unproductive assets and utilize financial resources more effectively.
Following the successful completion of the first phase, further plants under Central Power Generation Company Limited (CPGCL), Jamshoro Power Company Limited (JPCL), and Northern Power Generation Company Limited (NPGCL) have been offered for sale in Phase 2.
To announce the auction, advertisements were published in national newspapers on April 17, 2025, and in the international daily Khaleej Times on April 19. The bidding process was structured as a ‘single-stage, two-envelope’ system to ensure transparency.
While the deadline for bid submissions was initially set for May 19, the date for receiving and opening bids for CPGCL’s Guddu Power Plants was extended to May 30, 2025.
A total of 29 plants were offered in this round, with a combined generation capacity of 4,074 megawatts and a reserve price of Rs. 40.66 billion. These included various blocks and units located in Jamshoro, Guddu, Muzaffargarh, Quetta, and Faisalabad.
Today, GENCO Holding Company Limited (GHCL) hosted a ceremony in Islamabad where bids for JPCL (GENCO-I and GENCO-II) and PGCL plants were officially opened by GENCOs and NESPAK at 10:30 AM and 2:30 PM, respectively.
On special instructions from the Prime Minister, the event was broadcast live to ensure transparency, with representatives from leading print and electronic media outlets in attendance.
According to the official statement, only one company—Siddiq Sons of Karachi—submitted a bid, and that too for the Jamshoro Power Company Limited. No bids were submitted for the Muzaffargarh or Faisalabad plants.
The government emphasized that all necessary measures had been taken to ensure the process was transparent, fair, and competitive, reinforcing its commitment to the effective use of national resources and the implementation of reforms in the energy sector.
It is worth noting that the Ministry of Energy had earlier announced that the bidding process for this second phase would take place in Islamabad on Monday (today). Three major power plants, with a total capacity of 2,362 megawatts, were scheduled for sale: the Thermal Power Station Jamshoro (880 MW), Thermal Power Station Muzaffargarh (1,350 MW), and the Steam Power Station Faisalabad (132 MW).
Previously, in the first phase of the auction, seven old thermal power plants had been successfully sold, fetching bids totaling more than Rs 9 billion—well above the reserve prices.
This second phase is not only seen as a step toward more efficient use of financial resources but also as a potential catalyst for new investment opportunities in the energy sector. Bidders, media representatives, and relevant institutions were invited to the event to uphold transparency throughout the process.
