ISLAMABAD: The government has confirmed its intention to close the state-owned Utility Stores Corporation (USC), as announced by the Ministry of Industries and Production Secretary.
During a recent session of the standing committee, Senator Saifullah Niazi raised the question of whether the government was planning to shut down the utility stores, to which the Secretary responded affirmatively.
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The Secretary further elaborated that the government is actively working on a plan to transfer employees from the USC to other institutions, ensuring their employment is secured. The move is part of a broader strategy to withdraw the government from non-essential business operations.
According to the Secretary, the decision to provide relief to utility stores has been counterproductive, as it disrupts the competitive market atmosphere. The government believes that stepping back from such ventures will promote healthier competition in the market, benefiting consumers in the long run.
Prime Minister Shehbaz Sharif has also sought proposals for shutting down the USC and replace it with a new system. The PM has called for proposals within two weeks for an alternative system in place of the utility stores.