ISLAMABAD (Kashmir English): The operation of the Utility Stores Corporation has been completely shut down across the country on the instructions of the federal government.
A letter has been sent by the Utility Stores Corporation to all zonal managers across the country in this regard.
The letter states that the process of buying and selling goods at stores across the country has been completely stopped from Thursday, and food items and other goods have been transferred from all the company’s stores to warehouses.
The board of directors of the Utility Stores has also confirmed the orders to shut down operations and suspended all the activities of the company.
On the other hand, government sources say that all the employees of the Utility Stores will be given a golden handshake, and a committee of the Ministry of Finance is working on this issue, however, the matter is delayed due to the protests of the employees.
Earlier, this was confirmed by a high-level committee formed by the Prime Minister to oversee the closure and privatisation of the Utility Stores Corporation (USC), in a meeting a few days ago.
It reaffirmed that all operations of the Corporation will be shut down by July 31, following government directives.
The meeting, held in Islamabad, was chaired by Finance Minister Muhammad Aurangzeb. The committee is tasked with ensuring a smooth and transparent shutdown of the utility stores across the country, along with devising a Voluntary Separation Scheme (VSS) for the employees and recommending a structured timeline for privatisation.
The committee members have also been tasked with developing a fair and financially viable VSS for USC employees, which would facilitate an orderly exit for workers and ease the transition.
The committee has been examining various aspects of the VSS, including its potential size, fiscal impact, and the legal and operational challenges associated with the closure plan.
