The federal government has decided to wind up operations of the Utility Stores Corporation (USC) by July 31, 2025, as part of its broader restructuring and privatisation agenda.
The decision was disclosed during a high-level meeting chaired by Finance Minister Muhammad Aurangzeb at the Finance Division on Wednesday. The meeting was held to review the progress made by the committee formed by the Prime Minister to oversee the closure and privatisation process of USC.
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According to an official statement, the committee reaffirmed that all USC operations would cease by the end of July. It also reviewed details of a proposed Voluntary Separation Scheme (VSS) for employees and discussed its potential financial and legal impact.
A subcommittee has now been formed under the Secretary of the Establishment Division to examine the size, structure, and operational implications of the VSS. It will include members from the Finance Division and the Ministry of Industries and Production.
The subcommittee is expected to submit its findings by the end of the week.The main committee also recommended consulting the Privatisation Commission to explore options for the future of USC’s assets and operations.
The Utility Stores Corporation, established to provide subsidised essential items to the public, has long faced operational and financial challenges.
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