- Utility Stores Corporation employs more than 11,000 workers.
- 5,000 regular employees to be transferred to a PO surplusol.
- 6,000 contracts, daily salary workers to receive no compensation.
Islamabad: Thousands of employees are about to lose their jobs due to the move of Utility Stores Corporation (USC) to close 1,700 points of sale as part of the government’s privatization campaign, The news reported on Saturday.
The chain managed by the State, struggling with 14 billion liabilities of liabilities, employs more than 11,000 workers, most of whom are faced with an uncertain future in the midst of restructuring.
Information of the Senate Senate Committee and the production of the Senate, USC officials said that 5,000 regular employees would be transferred to a surplus basin while 6,000 daily contract workers and wages would receive no departure compensation for operations.
The privatization of the USC is at a standstill pending a two -year audit, which should conclude by August 2025. Its properties, worth 8.3 billion rupees for the last time, have already been evaluated.
The director general of the USC informed the committee that the estimated value of the company’s real estate assets was around 8.3 billion rupees according to estimates of 2020 and 2021. However, the USC has a responsibility of around 14 billion rupees.
Senator Aoun Abbas, presiding over the session, put pressure on the Ministry of Industries to ensure the transparency of the workforce of the workforce while the employees express an increasing anxiety.
The panel also targeted the Pakistan sugar sector, questioning prices despite prices despite 700,000 tonnes of exports this exercise. Abbas stressed that 44% of sweets belong to political families and criticized price increases after the overwhelming season.
He also examined the role of the Sugar Advisory Board in sugar prices control. The officials said that the board of directors, with the status of recommendation, monitors national sugar policy, production, exports and imports, but does not solve retail prices.
The senators have decided to convene the Pakistan Competition Commission (CCP) and owners of sweets to investigate a possible market manipulation.
Frustration has climbed on the repeated absence of the industry secretary, Abbas warning the official to appear at the next meeting. The session was followed by Masroor Ahsan, Saifullah Sarwar Khan Nyazee, Husna Bano, Daneh Kumar, USC MD Faisal Nisar Charthry and other officials.