ISLAMABAD, July 4 (Alliance News): The federal government has begun implementing its decision to shut down the Utility Stores Corporation of Pakistan, instructing all store managers to return stock to vendors and complete clearance procedures within 10 days.
In a letter issued to store managers, the Utility Stores Corporation (USC) management directed that all ongoing stock return activities be finalized promptly.
The move follows a recent Board of Directors meeting, during which it was also indicated that the corporation’s assets may soon be privatized.
Sources revealed that the government is preparing to lay off permanent employees through a Voluntary Separation Scheme (VSS), with compensation.
A high-level committee, led by the Secretary for Industries and Production and the Managing Director of USC, has been established to oversee the process.
The committee’s mandate includes ensuring that all shutdown operations are carried out legally and transparently, and that employee rights are safeguarded during the transition.
Once a key player in providing subsidized food and household essentials to low-income communities, the Utility Stores Corporation has long faced financial and operational challenges.
The current decision signals a shift in government policy toward minimizing its footprint in retail distribution and encouraging private sector participation.
Further details regarding the timeline for asset privatization and compensation packages for employees are expected in the coming weeks.
