Pakistan, May 17 -- The federal government has decided to auction outdated and non-functional power plants on May 19. These plants are owned by four public sector generation companies under GENCO Holding Company Limited. The decision was made under Prime Minister Shehbaz Sharif's directive to speed up power sector reforms and remove financial burdens from the national exchequer.

The auction will take place at the GENCO Holding Company office in Islamabad. It will be held from 9:00 a.m. to 5:00 p.m. All four state-owned companies will send their representatives to participate in the event. These companies are known to have several old and inactive plants that have been out of service for years, consuming resources without producing electr...