4,000 USC staff to be laid off through VSS
The regular employees will be transferred to the federal government's surplus pool prior to the privatisation process.
According to sources, the USC Board of Directors, chaired by Federal Secretary for Industries Saif Anjum, approved the formation of a four-member committee to finalise the VSS package during a meeting. Officials from the Privatisation Commission and the Ministry of Finance were also in attendance.
During the meeting, it was stated that the USC will be shut down by July 30, 2025.
Earlier, in a meeting chaired by USC Managing Director Faisal Nisar on June 30, 2025, key decisions were made regarding the closure of USC operations, and instructions were issued to suspend all utility store operations nationwide from July 1, 2025.
All zonal managers were directed to close accounts of utility stores and warehouses and submit reconciliation reports within a day.
This decision triggered a strong backlash from employees and their representative bodies. Following protests, USC management met with corporation's officials and announced that the closure letter had been withdrawn, describing it as a misunderstanding.
However, just days later, the board reconvened and reaffirmed the closure plan. It was decided that all vendors and suppliers would be notified to retrieve their goods from stores and warehouses by July 10.
Additionally, rented utility store buildings will be vacated starting August 1, 2025, and notices will be issued accordingly. A two-year audit report is also expected by August, while a detailed report on USC assets and their valuations is being prepared to facilitate the privatisation process.
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