Islamabad (Web Desk): The Ministry of Finance has directed that all operations of Utility Stores across the country be suspended by July 31, 2025. This decision was made during a high-level committee meeting chaired by Federal Finance Minister Muhammad Aurangzeb. The committee was formed under the instructions of Prime Minister Shehbaz Sharif to evaluate the future of Utility Stores and explore privatization options.
According to the official statement, the meeting discussed a fair and financially viable Voluntary Separation Scheme (VSS) for the employees. The committee also recommended consulting the Privatization Commission regarding the future of the Utility Stores.
Additionally, the possibility of selling the assets of Utility Stores was considered, and a sub-committee was formed to assess the legal and operational aspects of the transition. This sub-committee is expected to submit a report on the VSS plan within the week.
The committee’s recommendations will be submitted to the Prime Minister soon. The Ministry of Finance has assigned the committee the task of managing the closure process and finalizing a support package for the employees.