The federal government has prepared a larger financial package worth RS27 billion for Utility Stores Corporation (USC), with final approval expected in Tuesday’s (today) meeting of the Economic Coordination Committee (ECC). The plan was revealed during a session in the National Assembly’s Standing Committee for Privatization Monday, with members expressing serious concerns about the closure of USC businesses and non-payment of the employees’ quota. Briefing of the committee said the secretary of industries and production that the RS27 billion package includes RS15–18 billion. For a voluntary separation scheme (VSS) for employees, while RS13.8 billion The committee was told that the USC is currently carrying a total debt burden of RS54 billion. The secretary added that out of approx. 11,000 USC employees would only approx. 300 will be preserved until privatization is completed. Sellers caused by payments will be cleared in two phases, with priority given to those under financial stress. The secretary admitted that the USC has been driving since subsidies withdrawn while RS46 billion. Remains outstanding towards the company, including quota for Trading Corporation in Pakistan and FBR. Dr. Sattar instructed a two-page detailed card being prepared, including names and contacts from CBA Union representatives, details of employee payments and supplier clarification. Members of the committee demanded detailed details of the financial package prepared for workers. Senator Sehar Kamran emphasized that employees’ rights must be protected in the event of privatization. She warned against repeating the example of the USC, which has been shut down and where the workers are dismissed. It is relevant to note that the USC, with over 4,000 businesses nationwide, was created to limit market manipulation of retailers and wholesalers, enabling the government to intervene when needed to supply significant raw materials, subsidized where needed, to any specific area. The session also saw concern about the deterioration of electricity stops across the country, where legislators criticized prolonged load under the deck of "Load control". Committee chairman Farooq Sattar complained that citizens were facing power cuts as long as 15 hours a day. Power Division officials claimed there was only any strain "Commercial load control" In areas of high loss. However, the member dismissed hard the claim. Maulana Abdul Ghafoor Haidri said officials always deny strain, but across the country, especially in Balochistan, people suffer from 15-hour power outages. He pointed out that pipe well owners were denied promised payments while the entire feed had been closed. Dr. Sattar noted that Islamabad had already introduced interruption of interruption and SCADA technology to punish only defaults while suggesting its replication nationwide.
Govt to offer RS27B -rescue to USC
