Govt to shut down Utility Stores by July 31

July 16, 2025 (MLN): The government has reaffirmed that all operations of the Utility Stores Corporation (USC) will be closed by 31st July 2025.

This came during a high-level meeting of the Committee constituted by the Prime Minister to oversee the closure and privatization of USC, held today at the Finance Division and chaired by Federal Minister for Finance and Revenue, Senator Muhammad Aurangzeb.

The Committee has been tasked with ensuring a smooth and transparent closure process, formulating a suitable Voluntary Separation Scheme (VSS) for USC employees, and recommending a structured timeline for privatization, as per the press release issued today.

The meeting was attended by Special Assistant to the Prime Minister on Industries & Production Haroon Akhtar Khan, Secretary Establishment Division, Secretary Finance Division, Secretary Industries & Production Division, Managing Director USC, and senior officers from the Finance and Revenue Division.

During the meeting, the Committee reviewed progress on its assigned tasks and held detailed deliberations on the way forward.

The members discussed the formulation of a fair and financially viable VSS, including its projected size, fiscal impact, and legal and operational implications.

It was recommended that the Privatization Commission be consulted regarding the optimal structuring and feasibility of privatization or asset sales linked with USC operations.

To facilitate a comprehensive analysis, the Chair formed a sub-committee led by the Secretary Establishment Division, including representatives from the Finance Division and Industries & Production Division.

The sub-committee will examine the legal and operational aspects, contours, size, and structure of the proposed VSS and submit its report to the main Committee by the end of the week.

The findings will help the Committee finalize its report and recommendations for submission to the Prime Minister as per the Terms of Reference.

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