ECC approves Rs30bn grant for closure of utility USC

August 28, 2025 (MLN): The Economic Coordination Committee (ECC) of the Cabinet, chaired by Federal Minister for Finance and Revenue Senator Muhammad Aurangzeb, has approved a technical supplementary grant of Rs30.216 billion to facilitate the smooth closure of the Utility Stores Corporation (USC) of Pakistan.

The decision aims to ease the longstanding financial strain of USC on the national exchequer while ensuring protection for employees impacted by the closure.

The package covers severance, compensation, and outstanding dues, enabling workers to receive their entitlements and reducing the social and economic fallout of the corporation’s winding up.

The ECC instructed the Ministry of Industries & Production to further streamline financial requirements for the closure and decided that USC’s assets, including properties, will be sold within the current fiscal year to partially offset closure costs.

Emphasizing the need for transparency and proper management, the Cabinet body stressed that the closure process, including asset disposal, must be handled in an orderly manner.

The approved financial package reflects the Government’s commitment to employee welfare alongside fiscal discipline.

The meeting was attended by Federal Minister for National Food Security and Research Rana Tanveer Hussain, Federal Minister for Commerce Jam Kamal Khan, Federal Minister for Power Sardar Awais Ahmad Khan Leghari (virtually), Special Assistant to the Prime Minister for Industries and Production Haroon Akhtar Khan, as well as federal secretaries and senior officials from relevant ministries and departments.

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