Govt Announces Decision to Privatize Utility Stores Corporation 

Despite previous denials and claims of restructuring, the federal government has announced its decision to sell the Utility Stores Corporation (USC), which provides subsidized food and essential items to the poor. The privatization of Utility Stores has been confirmed by Federal Minister for Privatization Abdul Aleem Khan in a written response during the question hour. The USC has now been included in the list of entities slated for privatization. According to the Ministry of Privatization, the government aims to privatize a total of 24 entities over the current and next four fiscal years. The ministry stated that loss-making organizations are being prioritized for privatization. The list of entities earmarked for privatization includes major organizations such as Pakistan International Airlines (PIA) and various electric supply companies. Additionally, First Women Bank, House Building Finance Corporation (HBFC), and Zarai Taraqiati Bank Limited (ZTBL) are also on the privatization list. Other entities included are Pakistan Engineering Company (PECO), Sindh Engineering Limited, and twelve power generation and distribution companies from the energy sector. Overseas assets like the Roosevelt Hotel in the United States are also part of the privatization plan. Furthermore, state-owned insurance companies, State Life Insurance Corporation and Pakistan Reinsurance Company Limited, are included in the privatization list, along with the Utility Stores Corporation. This government had previously maintained that it would restructure the Utility Stores Corporation rather than privatize it.