Rs15b sugar subsidy diverted to USC

Rs15b sugar subsidy diverted to USC

Amid financial constraints, the government has decided to divert Rs15 billion allocated for sugar subsidy to finance the closure of Utility Stores Corporation (USC). The Economic Coordination Committee (ECC) recently approved Rs30 billion for winding up USC. Sources said the finance division flagged budgetary constraints in a recent ECC meeting as the closure cost was not budgeted. The ECC directed the Ministry of Industries & Production to rati…

Pakistan Govt Moves Ahead with Utility Stores Asset Sale in FY26

The federal government has decided to sell and dispose of Utility Stores Corporation (USC) assets within the current financial year. Officials said proceeds will help clear vendor liabilities and pay staff dues. The Ministry of Industries and Production (MoI&P) will use Rs15 billion that is available this year to clear sugar subsidy arrears of the […] The post Pakistan Govt Moves Ahead with Utility Stores Asset Sale in FY26 appeared first on Tec…

Government Moves to Sell USC Assets Amid Closure and Layoffs - Republic Policy

The government has decided to dispose of the assets of Utility Stores Corporation (USC) within the current financial year, using Rs. 15 billion available with the Ministry of Industries and Production to clear sugar subsidy arrears. Established in 1971 to provide essential items at subsidised rates, USC expanded massively in the 2000s but has been incurring continuous losses since 2013, which had reached Rs. 23.8 billion by June 2025. Republic P…

Pakistan govt decides to sell USC assets in FY26

PM Shehbaz earlier approved closure of Utility Stores Corporation operations in July