Islamabad (Wednesday, July 16, 2025) – The government has decided to shut down all operations of the Utility Stores Corporation (USC) by July 31, 2025.

A meeting was held under the chairmanship of Finance Minister Muhammad Aurangzeb to discuss the closure of the USC and the Voluntary Separation Scheme (VSS). During the meeting, the committee reviewed the progress made so far in light of the given targets and held detailed consultations on the future course of action.

It was resolved that all USC activities will be terminated by July 31, 2025, in accordance with government directives. The meeting also included an in-depth discussion on designing a fair and financially viable VSS for USC employees.

Various aspects of the joint scheme were reviewed, including its estimated scale, financial implications, and legal and administrative considerations. The committee recommended engaging the Privatization Commission to assess the possibilities and structure for privatizing USC operations or selling off its assets.

Additionally, a sub-committee was formed under the leadership of the Secretary of the Establishment Division, with representatives from the Ministry of Finance and the Ministry of Industries and Production. This sub-committee will assess the legal, operational, financial structure, and scale of the joint VSS and submit its report by the end of this week. This report will help the central committee in finalizing recommendations to be presented to the Prime Minister in line with the set targets.