ECC Approves Closure Plan for Utility Stores, Assets to Be Sold to Cover Costs

Islamabad: The Economic Coordination Committee (ECC) has approved the funding plan for shutting down the Utility Stores Corporation, allocating Rs30.21 billion in supplementary budget to complete the process.

According to *Express News*, the closure plan includes payment of severance packages, dues, and compensation to employees during the phasing-out process.

The ECC directed the Ministry of Industries and Production to take additional steps to minimize financial requirements. It was also decided that the corporation’s assets and properties would be sold during the current fiscal year, with proceeds partially covering closure expenses.

The committee emphasized that the process must be carried out in a transparent and well-organized manner.