I have a Mazada 4X4 MPV Mini van and the hold button is for making sure the transmission stays in a lower gear when going up hills. Both switches modify the way the electronically controlled automatic transmission functions. The Power switch changes the shift points of the transmission to allow the engine to rev higher before upshifting. It also causes the transmission to downshift earlier when decellerating under load. The overall purpose is to keep the engine in its optimal power range. The hold button prevents the trasmission from upshifting so you can use the engine to keep speed in check as when going downhill or when going uphill, to keep the trans from downshifting.
mine doesnt
I suspect your hold switch on the shift lever might be bad..or ahs a broken wire.
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A 1992 - 1995 Power steering switch can be found for sale on the internet for about 100$
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check the power steering and check the battery
check the power steering fluid, and check the battery