Utility Stores Corporation | Pakistan

The Economic Coordination Committee (ECC) of the cabinet approved a technical supplementary grant of Rs30.216 billion on Thursday to ensure the smooth closure of the Utility Stores Corporation (USC) of Pakistan. Established in 1971, USC was a state-owned enterprise tasked with supplying essential commodities at subsidised rates, primarily targeting low-income households, and operated over 4,000 retail outlets nationwide. It formally ceased operations at the end of July. A press release by the government’s finance division today said that the grant represented a “major step in responsibly addressing the longstanding financial burden of USC on the national exchequer”, adding that it also safeguarded the interests of employees affected by the closure. “By approving severance, compensation and payment of outstanding dues, the government is ensuring that workers receive their entitlements, thereby cushioning the social and economic impact of USC’s winding up,” the press release said. The committee was chaired by t...

The federal government of Pakistan has reportedly finalised plans to close down the Utility Stores Corporation (USC), setting 31st July as the official deadline, according to sources familiar with the matter. The move comes on the directive of Prime Minister Shehbaz Sharif, following a high-level meeting held on 28th June. As part of the closure […]