Islamabad:
The federal government has decided to terminate nearly 4,000 permanent employees of the Utility Stores Corporation (USC) through a voluntary separation scheme (VSS) before continuing the company’s privatization.
The ordinary employees are transferred to the federal government’s excess pool before the privatization process.
According to sources, the USC board, chairman of the federal secretary of industries Saif Anjum, approved the formation of a four-member committee to finish the VSS package during a meeting. Officials from the Privatization Commission and the Ministry of Finance were also present.
During the meeting, it was stated that the USC will be shut down by July 30, 2025.
Earlier, at a meeting with the chairman of the USC CEO Faisal Nisar on June 30, 2025, key decisions were made regarding the closure of USC operations and instructions were issued to suspend all operations in the tool nationwide from July 1, 2025.
All zonal leaders were instructed to close stories of supply stores and stocks and submit reconciliation reports within one day.
This decision triggered a strong setback from employees and their representative bodies. After protests, the USC management met with the company’s officials and announced that the closing letter had been withdrawn and described it as a misunderstanding.
However, just days later, the board rebuilt and confirmed the closure plan. It was decided that all suppliers and suppliers would be notified to retrieve their goods from stores and stores by July 10.
In addition, rented building buildings from utility shops will be vacated from August 1, 2025, and messages are issued accordingly. A two-year audit report is also expected in August, while a detailed report on USC assets and their valuations is prepared to facilitate the privatization process.
