ISLAMABAD (Kashmir English): The government has approved a Rs28bn relief package for Utility Stores Corporation (USC) employees after it decided to shut down the Corporation from August 31 after years of financial losses.
The package has been announced to support USC employees. Speaking at a press conference in Islamabad, Minister for Parliamentary Affairs Tariq Fazal Chaudhry said the Corporation, established in 1971, had played an important role in Pakistan’s economy adding it continued to suffer heavy losses despite multiple attempts at reform.
According to the Minister, the corporation had been incurring a monthly loss of Rs600 million, which forced the government to take the decision of dissolving it.
Decision to benefit former USC employees
The Rs28 billion package is to provide financial security to contract workers affected by the closure. The move is aimed at mitigating the impact of the decision on the former employees.
The decision comes as part of broader government measures to reduce losses by closing down around 1,700 utility stores across the country.
The package aims to ensure that employees are not left without income during the transition.
