Islamabad, December 1, 2025 – The federal government has formally removed the Utility Stores Corporation (USC) from the country’s active privatization program, following recommendations from the Privatization Commission (PC) Board during its 243rd meeting held on Monday.
The meeting, chaired by Muhammad Ali, Adviser to the Prime Minister on Privatization and Chairman of the Privatization Commission, introduced key adjustments to the national privatization roadmap. The Board approved the addition of three state-owned enterprises (SOEs) to the active list while advising the removal of two others after reviewing recommendations from the PC’s Investment Committee.
The Investment Committee had conducted a comprehensive evaluation of 15 SOEs referred by various ministries for potential privatization. After detailed assessment, the committee identified Saindak Metals Limited (SML), Pakistan Minerals Development Corporation (PMDC), and National Insurance Company Limited (NICL) as suitable for inclusion in the Privatization Program. The remaining 12 SOEs were deemed unsuitable due to viability concerns and were not recommended for further consideration.
In its delisting decisions, the PC Board recommended removing Sindh Engineering Limited (SEL) and the Utility Stores Corporation (USC) from the active program. SEL has been non-operational since 2007–08 and holds only litigation-encumbered land as its primary asset. USC, meanwhile, has already ceased operations under government directives, and its liabilities far exceed its remaining assets, making privatization unfeasible.
Reiterating its reform-driven mandate, the PC Board emphasized that the privatization agenda will remain aligned with the government’s broader SOE restructuring and fiscal consolidation strategy. Only entities that are financially viable, operationally ready, and capable of attracting market interest will move forward for privatization, while non-viable SOEs may be considered for alternative solutions, including liquidation, by their respective ministries.