Dawn
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08:06 May 20, 2025
ISLAMABAD: The government got an apathetic response to its auction for three inefficient power plants, compelling it to go for a second round of bidding by the end of this month. Only a single bidder — Siddiqsons from Karachi — came up with a bid for Jamshoro Power Company Ltd (JPCL). Two other plants — Muzaffargarh and Faisalabad — did not fetch even a single offer. The government set a combined reserve price of Rs26.625 billion for the three plants with 2,362MW of cumulative generation capacity. The auction was called through a ‘single-stage two envelop’ bid to ensure transparency, said the Ministry of Energy (Power Division), adding the bidding date was set for May 19. “Only one company, Siddiqsons, submitted a bid for JPCL. No company submitted any bid for Muzaffargarh and Faisalabad Power plants”, the Power Division said. The date for opening bids has been extended till May 30, it said in a statement. The government held open bidding for the disposal of three old and defunct power plants on an “as-is, wh...