Govt forms body to halt operations of Utility Stores Corporation

The federal cabinet formed a seven-member committee under the supervision of Federal Minister for Industries and Production Rana Tanveer Hussain to suspend operations of Utility Stores Corporation (USC) and to take custody of its assets, reported 24NewsHD TV channel on Wednesday.

Minister of State for Finance and Revenue Ali Pervaiz Malik and Minister of State for IT Shiza Fatima Khawaja, federal secretary for finance and secretary industries and production will be the members of the committee.

The federal cabinet also finalized all terms of feference (TORs) in this regard. The committee will finalize a strategy to suspend operations of Utility Stores Corporation immediately.

The committee will also approve effective measures for maintenance of assets and properties owned by Utility Stores Corporation.

The committee will review strategy for transfer of Utility Stores employees to Surplus Pool or their posting on other government departments.

The committee will form a strategy for implementation of Ramzan Package under Benazir Income Support Programme (BISP).

Ministry of Industries and Production will extend secretarial support to the committee.

The committee will forward a comprehensive report in this regard to the federal government within seven days.

All sale and purchase activities will come to an end after suspension of operations by Utility Stores Corporation.

Reporter: Waqas Azeem