Govt Orders Immediate Closure of Utility Stores Corporation

The federal cabinet has decided to shut down the Utility Stores Corporation (USC). To oversee this transition, a seven-member committee has been formed led by the Federal Minister for Industries and Production. The committee includes key officials such as the Minister of State for Finance and Revenue, Minister of State for IT & Telecom, and secretaries from Finance, Privatization, the Benazir Income Support Program, and Industries and Production. On Tuesday, the Cabinet Division issued a notification detailing the committee’s Terms of Reference (ToRs) for the immediate closure of USC operations. The committee has been directed to submit a detailed report on the process within a week. The committee will arrange for the reassignment of USC employees either to a surplus pool or to vacancies in other federal government organizations. Provisions for safeguarding the corporation’s assets and properties during the privatization process will also be outlined.