Swift sale of USC assets ordered

The Economic Coordination Committee has approved Rs11.329 billion in supplementary funding for the closure of Utility Stores Corporation, while directing the industries secretary to move ahead with selling its 21 properties, valued at Rs12.045 billion. The Express Tribune reported that the Finance Division had asked USC to raise money by disposing of assets and seek approval for a separate grant.

USC stopped retail operations nationwide on July 31, 2025, and the proceeds from property sales are intended to contribute to its remaining closure costs. The cabinet-approved cash flow plan put total requirements at Rs40.151 billion, with Rs13.822 billion expected from asset sales and a projected net federal liability of Rs26.329 billion.

The ministry said 11,083 employees had been laid off, while Rs8.146 billion in severance payments had gone to 9,119 workers. Supplier payments, returned branded stock and other asset disposals have also formed part of the wind-down, but the property sale still requires approval from the Privatisation Commission and the Cabinet Committee on Privatisation.