The government of Pakistan has made Rs. 46.73 billion by selling scrap from 61 non-working thermal power plants, according to a report by the Power Division.
This scrap auction was carried out in two phases and brought in more money than expected. The reserve price, which was set with the help of the State Bank of Pakistan, was Rs. 45.817 billion. However, the final amount earned went beyond this target.
In the first phase of the auction, 31 power plant units were sold for Rs. 8.475 billion. In the second phase, the remaining 30 units were sold for a much higher amount—Rs. 38.255 billion.
The thermal power plants that were sold off included sites in Jamshoro, Guddu, Sukkur, and several other locations across the country. These plants were no longer in use and were costing the government money in the form of capacity charges—payments that have to be made to power producers even when electricity is not being generated.
As part of this process, the government also announced that the staff working at these closed plants will not lose their jobs. Instead, they will be transferred to various power distribution companies so they can continue their work in the energy sector.
This move is seen as a significant step forward in reforming Pakistan’s energy sector. By removing these outdated and costly power plants, the government hopes to reduce the financial burden on consumers and improve the efficiency of the country’s overall power system.
