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The federal government has decided to shut down the Utility Stores Corporation (USC) as part of its efforts to withdraw from non-essential business operations. This decision was disclosed by the Secretary of Industries & Production during a meeting of the Senate Standing Committee on Industries and Production on Friday.
The announcement came in response to an inquiry from Senator Saifullah Niazi regarding the future of the Utility Stores. The Secretary confirmed that the government is actively working to reassign USC employees to other institutions as part of the closure process.
The Secretary further explained that one of the reasons behind the decision is that government subsidies provided to the Utility Stores distort market competition. By shutting down the USC, the government aims to reduce these distortions and create a more level playing field for businesses in the market.
This move is part of a broader strategy by the government to focus on essential services and allow the private sector to take a leading role in non-essential areas of the economy. The closure of the USC represents a significant shift in the government’s approach to managing its business operations and could have far-reaching implications for market dynamics in Pakistan.
