Committee Decides Future of Utility Stores Corporation Following Restructuring Consultations

Islamabad:A committee overseeing the formal closure process of the Utility Stores Corporation has decided to determine the future of the corporation after consultations on its restructuring.

In a high-level meeting chaired by Federal Minister for Industry, Rana Tanveer Hussain, significant suggestions were presented by Minister for Information Technology, Shiza Fatima. The meeting focused on implementing Prime Minister’s directives regarding the closure of the Utility Stores Corporation and accelerating the process to bring about its termination.

According to a statement from the Ministry of Industry, a committee has been formed to monitor the productivity of Utility Stores employees and outlets across the country. The final decision regarding the future of the corporation will be made in the upcoming meeting.

Minister Rana Tanveer Hussain stated that several private companies are showing interest in the restructuring of the Utility Stores Corporation, though a final decision is yet to be made.

The federal cabinet had previously decided to shut down the operations of the Utility Stores Corporation nationwide and formed a 7-member committee under the leadership of the Federal Minister for Industry and Production to oversee the process.

Sources indicate that the committee will devise an immediate action plan for the closure of the corporation’s operations and will outline steps to secure the corporation’s properties and assets.