Govt to Shut down Utility Stores Corporation

The federal government has decided to shut down Utility Stores Corporation (USC) as it tries to get out of non-essential business operations, Secretary Industries & Production informed the Senate Standing Committee on Industries and Production on Friday. The secretary confirmed this development during the meeting of the committee while responding to Senator Saifullah Niazi’s inquiry about the future of Utility Stores. The Secretary explained that efforts are underway to reassign Utility Stores Corporation employees to other institutions. He said the government’s subsidies to utility stores distort competition in the market, which is another reason for the planned closure.