ISLAMABAD: To create a comprehensive plan for the timely shutdown of Utility Stores Corporation activities across the country, the federal cabinet has established a high-level committee.
According to a Cabinet Division announcement on Wednesday, Industries and Production Minister Rana Tanveer Hussain would serve as the committee’s leader. The group has seven days to report back to the cabinet. Following Tuesday’s agreement by the federal cabinet, the notification was sent out.
State ministers of finance and revenue, information technology, federal secretaries of finance, industry and production, privatization, and the Benazir Income Support Program (BISP) will be among the committee’s seven members.
The committee will decide the procedures for the Utility Stores Corporation’s immediate shutdown in accordance with the terms of reference (TORs). The committee will also determine how permanent USC personnel can be absorbed into other federal government organizations or placed in the surplus pool.
The public is typically offered the prime minister’s Ramazan package through utility outlets. But now, the committee will also work with the BISP to develop a plan for delivering the Ramazan gift.
The group is also charged with deciding how to maintain and safeguard USC-owned land and assets while they are being privatized, as well as any other issues related to the utility shop closures.
The group will receive secretariat support from the Ministry of Industries and Production. Within seven days, the committee will complete its report and submit it to the federal cabinet.
Notably, there were rumors that the government will stop providing subsidies for cooking oil, sugar, and wheat.
The closure of 1,000 USC locations that were losing money countrywide was the subject of another proposal in December 2024. But restructuring the company to increase its financial viability was another suggestion.
It will be a difficult effort for the government to accommodate USC’s 3,800 employees. The minister of production and industries stated time and again that the administration had no plans to close the USC.
The Economic Coordination Committee authorized Rs1.7 billion in January to pay off USC’s outstanding debts as part of the Prime Minister’s Relief Package. But there was no extra funding set aside for the impending Ramadan aid package.
