Auction of power plants draws only one bid
Power generation through imported gas RLNG grew due to the addition of two new RLNG power plants to the system ie Quaid-e-Azam Thermal Power (Private) Limited and Haveli Bahadur Shah. PHOTO: AFP
Pakistan's second phase of auctioning the outdated state-owned thermal power plants produced a disappointing outcome on Monday as only one bidder came forward by making an offer for a single plant while others did not show any interest.
The 880-megawatt Jamshoro Thermal Power Station (Genco-I) was the only plant that received a technical bid, which was submitted by Siddiqsons. The government had set a reserve sale price of Rs9.97 billion for the power plant.
On the contrary, no bids were received for two major projects running under Genco-III – the Muzaffargarh Thermal Power Station (1,350 MW) and the Faisalabad Steam Power Station (132 MW). Together, the three plants had a reserve sale price of Rs26.62 billion with electricity generation capacity of 2,362 MW.
Officials confirmed the lack of interest on the part of investors despite marketing efforts and expectations of broader participation.
Meanwhile, the bidding process for other plants functioning under Genco-II, including the Guddu Thermal Power Plant and the Thermal Power Station Quetta, has been postponed. These assets will now be offered for auction on May 30 in a separate round.
The delay comes in the wake of need for more investor outreach and clarity in terms of sale.
Genco Chief Executive Officer Sabeehuz Zaman Faruqui acknowledged the limited outcome and said that the auction of outdated power assets was always expected to be held in phases due to the age and condition of those plants. The process is technically complex while investor appetite varies depending on a plant's location, efficiency and future viability, he said.
In the first phase of auction held earlier, the government successfully sold seven thermal plants for Rs9.05 billion, which surpassed the reserve price of Rs8.07 billion. These included the power units situated in Kotri, Lakhra and Sukkur, and four units in Multan and Faisalabad.
National Engineering Services Pakistan (Nespak), a state-owned engineering consultancy firm, is assisting in the technical evaluation and bidding process.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Express Tribune
a day ago
- Express Tribune
Beijing launches AI ‘RoboBrain' to power next generation of humanoid robots
Humanoid robot "Tiangong" participates along with human runners in the E-Town Half Marathon & Humanoid Robot Half Marathon in Beijing, China April, 19 2025. PHOTO: REUTERS Listen to article China has taken a significant step forward in its race to lead global robotics innovation with the unveiling of RoboBrain 2.0 — an open-source artificial intelligence model designed to serve as the cognitive core of humanoid robots. The model was launched on Friday by the Beijing Academy of Artificial Intelligence (BAAI), a leading non-profit research institution, during its annual conference in the Chinese capital. The release marks a milestone in China's efforts to build smarter and more autonomous machines for its fast-growing robotics sector. Described by BAAI director Wang Zhongyuan as the world's most powerful open-source AI model tailored for robotics, RoboBrain 2.0 promises to enhance a robot's spatial perception and task-planning capabilities. Compared to its earlier version introduced just three months ago, the upgraded model is reported to operate 17% faster and with 74% higher accuracy. 'Currently, we are partnering with over 20 leading companies and are open to new collaborations to drive growth in the embodied intelligence industry,' Wang told attendees at the Zhiyuan Institute — BAAI's local moniker. The enhanced spatial intelligence enables robots to more accurately interpret their surroundings and judge distances, while improved planning algorithms allow them to autonomously deconstruct complex tasks into simpler, executable steps. RoboBrain 2.0 is part of BAAI's broader Wujie model suite, which also includes RoboOS 2.0 — a cloud-based distribution platform for robotics AI — and Emu3, a multimodal system capable of processing and generating text, images, and video. The model's launch comes amid intensifying competition in China's robotics landscape. Earlier this year, the Beijing Humanoid Robot Innovation Centre introduced its own general-purpose platform, Hui Si Kai Wu, which it envisions as the Android equivalent for humanoid robots. The centre made headlines in April after its Tien Kung humanoid robot completed a half-marathon in Beijing. BAAI has emerged as a pioneer in open-source large language models and has played a key role in China's generative AI boom. Many of its alumni have gone on to found successful AI start-ups. Despite being added to the US Entity List in March — which restricts access to American technology — the institute continues to push forward, with Wang calling the decision 'a mistake' and lobbying for its reversal. In a show of resilience and ambition, BAAI also announced a new strategic partnership with the Hong Kong Investment Corporation to promote innovation through joint initiatives in talent development, technology exchange, and venture capital. This year's BAAI Conference drew more than 100 global AI researchers and over 200 industry experts, including leaders from major Chinese tech firms such as Baidu, Huawei, and Tencent, alongside robotics-focused start-ups like Unitree Robotics, Zhipu AI, and Shengshu AI. As China accelerates its quest to develop commercially viable humanoid robots, BAAI's open-source approach could help democratise access to high-performing AI systems — and set the foundation for a new generation of intelligent machines.
Express Tribune
2 days ago
- Express Tribune
'PTI's protest movement is ineffective' says Rana Sanaullah
Listen to article Special Assistant to the Prime Minister on Public and Political Affairs Rana Sanaullah has said that Pakistan Tehreek-e-Insaf's protest call won't bear fruit as the party is not in a position to lead any such movement at the moment. Speaking to the media after offering Eid al-Adha prayers in Faislabad, the SAPM said Pakistan is now on the path to economic stability and development, but overcoming existing challenges requires national unity, political consensus, and alignment on an economic agenda, which he called the most urgent need of the time. He said Pakistan is transitioning from economic decline toward economic stability — a dream of the country's founding fathers. He added that thanks to national unity and courageous decisions by the political leadership, Pakistan is once again on a path of development. He revealed that India made an unjustified and arrogant attempt to attack Pakistan last month, but armed forces, with the backing of the people, delivered a strong response and shattered the enemy's arrogance. He said that the ongoing military operation, 'Bunyan-un-Marsoos', being carried out in the name of justice, has achieved historic success, and Pakistan has emerged before the world as a strong nuclear power. Read: FO slams Modi's 'unfounded' allegations on Pahalgam attack He extended congratulations to Field Marshal General Asim Munir and every soldier involved, saying they all deserve recognition for this success. Sanaullah said that under the leadership of PM Shehbaz Sharif, Pakistan has stepped onto the path of economic growth. He once again called on PTI and all political parties to come together for the country's betterment and agree on the Charter of Economy, just as the entire nation had shown unity and consensus between May 6 and May 10. He stressed that politics can wait — what's most important is fixing the economy, especially since 240 million Pakistanis are struggling with inflation and economic pressures. He appealed to opposition leaders to accept the Prime Minister's invitation and agree on the formation of a neutral Election Commission so that the next general elections are free and fair, leaving no room for objection. The adviser said that Pakistan has earned respect and recognition at the global level — countries that once distanced themselves are now compelled to listen. He warned that if political leaders continue to prioritise personal or group interests, it will go against national interest. He urged the public to put pressure on political parties to put the nation first. Commenting on PTI's protest movement, Rana Sanaullah said the movement is ineffective because the party lacks both preparation and public support. He further criticised Imran Khan, saying that if the former Prime Minister ties his release to the country's economic progress, it would be an injustice to the nation. Speaking on India's intentions, he responded to a question saying that the Modi government is following the RSS's extremist agenda and is hostile toward both Pakistan and Muslims. Read more: Pakistan launches diplomatic offensive against India He assured that India would not dare attack again, although efforts to destabilise Pakistan through terrorism would likely continue. He added that while the military has fulfilled its duties, it is now the responsibility of the political leadership to unite for national development. He claimed that the Pakistan Muslim League-Nawaz (PML-N) is taking the upcoming local government elections seriously and will participate actively under the new Local Government Act. He confirmed that these elections will be held on a party basis. Sanaullah also said that the Punjab government is working on welfare schemes such as the Kisan Card, Mazdoor Card, and Mazoor Card to improve the quality of life for ordinary citizens. He concluded by noting that major national projects, including Pakistan's nuclear tests, were completed during PML-N's tenure, and that Chief Minister Maryam Nawaz is now stepping forward with a new vision of public service.
Business Recorder
2 days ago
- Business Recorder
Punjab power relief funded by profits of two power companies
LAHORE: After the reduction in electricity tariffs of two power companies - Quaid-e-Azam Thermal Power Private Limited and the Punjab Thermal Power Private Limited - there will be cut in power tariff for the consumers but its impact would not be too significant, it has been learnt. 'There will be definitely reduction in power tariff of electricity consumers in Punjab and the relief will be financed with profits earned by said two government-owned power companies,' sources in the energy department said, adding: 'In light of the Punjab cabinet decision, the provincial government would approach Nepra for a reduction in power tariffs for these two plants so that these price reductions get permanence and are reflected in the new tariff.' It may be noted that the Punjab government had established a special purpose vehicle company by the name of Quaid-e-Azam Thermal Power (Pvt) Limited (QATPL) in March 2015 under section 32 of the Companies Ordinance 1984 in Independent Power Producer (IPP) mode with the mandate to build, own and operate a 1180 MW RLNG based power plant at Bhikki, Shiekhupura on fast track. Punjab CM announces up to 40pc relief in power tariffs The Punjab Thermal Power (Private) Limited (PTPL) is a private limited company incorporated under the Companies Act, 2017. It is wholly owned by the government of Punjab through the energy department. The main objective of the company is to establish and operate a 1263 MW thermal power plant based on RLNG at Haveli Bahadur Shah near Trimmu Barrage, District Jhang in Punjab. It may be recalled that the provincial cabinet in its meeting had given nod to cut the power tariffs of these two plants by 30-40 per cent to reduce electricity bills. This move is similar to the federal government's which recently renegotiated contracts with independent power plants (IPPs) to reduce tariffs, the sources added. 'Both the companies had curtailed its profits as well as reduced non-developmental expenditures to materialize this move.' Copyright Business Recorder, 2025
