The Economic Coordination Committee (ECC) on Thursday approved a supplementary grant of Rs30.216 billion for the closure of the Utility Stores Corporation (USC).
The meeting, chaired by Finance Minister Senator Muhammad Aurangzeb, marked a significant move to address USC’s long-standing financial burden on the national exchequer. The decision includes severance, compensation, and payment of pending dues to safeguard the rights of employees affected by the shutdown.
The ECC also directed the Ministry of Industries and Production to further rationalize closure costs and decided that USC’s assets, including properties, should be sold within the current fiscal year to offset expenses.
Emphasizing transparency, the committee highlighted the need for an orderly closure process. The approved package reflects the government’s commitment to protecting employees’ welfare while ensuring fiscal discipline.
The meeting was attended by several federal ministers, advisers, secretaries, and senior officials from relevant ministries and departments
This is the latest update afterlast announcement was made that All Utility Stores Across Pakistan Closed
