Islamabad, August 25, 2025 – The federal government has announced that it will release the outstanding dues of Utility Stores Corporation (USC) amounting to Rs27 billion in two phases, ensuring timely settlement of payments to employees and vendors. This decision was shared during a detailed session of the National Assembly Standing Committee on Privatization, which convened on Monday under the chairmanship of Muhammad Farooq Sattar.
The committee expressed strong reservations over the ongoing privatization of USC, noting that the continuation of this process despite its previous recommendations raised serious concerns.
Officials from the Ministry of Industries briefed the committee that while the operations of USC had been closed, the government remained committed to protecting the rights of approximately 10,000 to 11,000 employees. The Secretary emphasized that the corporation had performed profitably during the period when subsidies were provided, but financial losses mounted after these subsidies were withdrawn, resulting in operational shutdowns.
The committee directed that a comprehensive breakdown of the outstanding dues be presented at the next session, ensuring transparency in payments. Members also voiced concerns about the wider implications of privatization on public-sector enterprises and stressed the need for careful deliberation before proceeding with such initiatives.
Beyond the USC issue, the meeting also addressed the persistent problem of nationwide load-shedding. Officials informed the committee that there was no electricity shortfall in the country; however, load management was being implemented on feeders with high electricity theft or excessive line losses. The committee recommended a targeted approach, advising that only the identified feeders or consumers involved in theft or losses should face disconnections rather than penalizing entire regions.
Additionally, the committee advised the Minister for Power to hold regional consultations with Members of the National Assembly (MNAs) to assess public grievances and implement practical measures for resolution.
The meeting also reviewed matters concerning the Pakistan Engineering Company (PECO) and directed authorities to explore restoration options before considering privatization. Moreover, irregularities committed during the tenure of former Managing Director Mr. Anees were ordered to be investigated, with a detailed report to be submitted in upcoming sessions.
In another key update, the Secretary Privatization informed the committee that due diligence for Pakistan International Airlines (PIA) privatization had begun, attracting interest from multiple business groups. The process is expected to conclude in the final quarter of the year, with the committee stressing full transparency in all transactions.
MNAs including Chaudhry Mehmood Bashir Virk, Abdul Qadir Khan, Ms. Saba Sadiq, Ms. Seher Kamran, Arshad Abdullah Vohra, Sanjay Perwani, Mehboob Shah, Ali Asghar Khan, Zulfiqar Ali, and Moulana Abdul Ghafoor Haideri attended the session alongside officials from the Ministry.