The federal cabinet has decided to shut down the operations of the Utility Stores Corporation across Pakistan and has formed a committee to oversee the process, ARY News reported on Wednesday, citing sources.
As per details shared by sources, the committee will be led by the federal minister for Industry and Production, and it will consist of a seven-member team.
The committee includes the minister of state for Finance and Revenue, the minister of State for Information Technology, the Federal Secretary of Finance, and the Secretary of Industry and Production.
Additionally, the committee will have the Secretary of Privatization and the Secretary of the Benazir Income Support Programme (BISP) as members.
Sources indicate that the committee will establish the procedure for the immediate closure of operations at Utility Stores Corporation and outline measures for securing the corporation’s properties and assets. It will also make arrangements for the maintenance and protection of these assets.
The committee is tasked with assessing how to integrate the corporation’s employees into a surplus pool and reviewing the possibility of merging them into positions within other government entities, the sources said. Furthermore, a coordination strategy with BISP will be developed to ensure the timely delivery of Ramadan packages.
The Ministry of Industry and Production will provide secretarial support for the committee, which is expected to submit its report to the Federal Cabinet within seven days.
Once the operations are shut down, the Utility Stores Corporation will no longer be able to engage in sales or purchases.
