Major Progress Made in Sale of Utility Stores Corporation Assets

Significant progress has been reported in the sale of Utility Stores Corporation’s assets following the completion of property valuations. According to the documents, three independent evaluators assessed the combined value of the properties at Rs. 12.5 billion. A total of 21 properties were reviewed, though ownership disputes concerning five remain pending in court. Four of these cases involve properties in Multan, while one pertains to Lodhran. Official documents available with ProPakistani confirm that this marks an important step in the government’s plan to monetize the corporation’s real estate holdings. The valuation shows that the land and building of the corporation’s headquarters in Islamabad have been estimated at Rs. 5 billion. The building in G-9 Markaz has been valued at Rs. 1.57 billion, while the zonal office in I-10 has been assessed at Rs. 430 million. Further assessments place the value of the regional office and warehouse in Rawalpindi at Rs. 380 million, the zonal office in Peshawar at Rs. 800 million, and the regional office and warehouse in Hyderabad at Rs. 380 million. Similarly, the zonal and regional office warehouses in Karachi South have been valued at Rs. 190 million. Sources noted that despite the formal valuations, the federal government has yet to finalize buyers for the properties. The lack of concrete offers has delayed the next stage of the process, leaving the future of the asset sale uncertain.