Business Desk 
Jul 17, 2025
During a high-level committee meeting of the Utility Stores Corporation (USC), Finance Minister Muhammad Aurangzeb confirmed that all operations of the state-owned enterprise would be closed by the end of this month.
The meeting, held in Islamabad, was convened by the finance minister and attended by Prime Minister Shehbaz Sharif to oversee the closure and privatisation of the USC.
The committee was tasked with ensuring a smooth and transparent closure process by developing a suitable “voluntary separation scheme” for USC employees and recommending a structured timeline for privatisation.
The committee held extensive discussions on developing a fair and financially sustainable “voluntary separation scheme” for the corporation's staff.
Moreover, the meeting examined multiple dimensions of the separation scheme, including its projected size, potential fiscal impact, and legal and operational implications associated with its structure and rollout.
The committee recommended engaging the Privatisation Commission to explore the best approach and feasibility of fully privatising the USC or pursuing asset sales.
The chair constituted a subcommittee, headed by the Secretary of the Establishment Division, to facilitate a comprehensive analysis.
The subcommittee will delve into the legal and operational aspects, size, and structure of the proposed “voluntary separation scheme” and submit its findings to the main committee by the end of the week.
