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Business Recorder
7 days ago
- Business
- Business Recorder
11,614 USC employees removed following closure of 1,925 outlets
ISLAMABAD: The government has shut down 1,925 loss-making Utility Stores outlets countrywide being operated by the Utility Stores Corporation (USC) and 4,060 out of a total 11,614 employees were sacked. Briefing the Senate Standing Committee on Industries and Production held here under the chairmanship of Senator Aon Abbas to discuss matters pertaining to various attached departments of the Ministry of Industries, Managing Director Utility Stores Faisal Nisar Chaudhry said the closure of these outlets has resulted in saving of Rs1.7 billion. The MD USC said that if the management failed to privatise the USC annually Rs7 billion will be required to pay the salaries of the employees. The MD of the USC told the committee that for the time being, the privatisation process had been stopped because of a lack of its audit for two years. 'The privatisation will take place after the audit is complete,' the USC MD said, adding that 5,000 permanent employees would be sent to the surplus pool, while 2,554 employees still on contracts and on daily wage basis would be laid off. He added that the USC was on the government's privatisation list. 'The target is to complete the two-year audit in August 2025' after which the privatisation would be carried out, the MD stated. He also informed the committee that an initial estimate of the USC properties had been made. According to the USC MD, there were 3,742 Utility Stores across the country, out of which, the government has shut down 1,925 loss-making stores. After the privatisation, only 1,500 stores would require staff. He also said that the USC's monthly losses had been reduced to Rs220 million. The chairman committee inquired the present status of Rightsizing in Utility Stores Corporation (USC). The department briefed the committee that restructuring/rightsizing plan aimed at the eventual privatisation of the USC was formally approved by the USC Board of Directors during its 185th meeting held on 27th December 2024. The USC is being restructured under the restructuring plan according to which the loss-making stores of the corporation are going to be closed and surplus staff thereafter is being laid off. As part of the ongoing restructuring plan of USC, 1,925 stores have been closed and around 4,060 employees (1,823 contractual and 2,237 daily wages) have been laid off. It was also disclosed that the USC will not have sufficient funds to pay salaries to its 5,000 employees beyond next month, due to the closure of a significant number of its outlets. The USC officials informed the committee that the secretary had forwarded recommendations at the highest level, requesting that Rs7 billion funds be allocated for USC in the upcoming budget. The MD USC said that the stores were running on government subsidies and now the government has decided to even provide Ramadan relief package through Benazir Income Support Programme (BISP) to needy people. He said that USC's outstanding payment stand at Rs25 billion. The MD USC further stated that the management has decided to offer golden handshake scheme to 25 percent of the USC employees, otherwise, Rs2.7 billion annually will be spent on the salaries of these employees. The chairman committee recommended that details of the employees recruited in 2007 and 2013 should be submitted in the next meeting, from each province providing 10 office orders. This will enable the committee to assess the duration of their contractual appointments. Additionally, it was recommended that representatives from the Board of Directors (BOD), CBA Union, and PC should be invited to the next meeting. The meeting also discussed the role, functions and achievements of Pakistan Industrial Development Corporation (PIDC). The officials, while briefing the panel on PIDC, said that at the time of its creation, Pakistan did not inherit any industrial base as East and West Pakistan combined had only 34 factories out of a total of 921 industrial units in the Subcontinent i.e. 3.6 per cent. They said that the 34 industrial units including, textile mills, cigarettes, rice husking, cotton ginning and flour milling, contributing only 7 percent of GDP and employing only 26,400 people out of an 80 million population at that time. The East Wing produced 70 percent of the world's jute, but there was not a single jute mill and West Bengal (India) was almost the sole buyer. In the West wing, only 16,000 of the total 15,00,000 cotton bales produced could be processed domestically. Further, they told that industrial units setup by PIDC between 1952-1984 were 94 and country's industrial growth during 1953-63 remained around 19.1 per cent which was almost solely due to PIDC. In 2005/06, a number of Section-42 (not-for-profit) Companies and Common Facility Centres were created as wholly-owned subsidiaries of PIDC for intervention in various sectors including gems and jewellery, marble/granite, handicrafts, sporting arms, dies and moulds, technology upgradation for skill imparting, setting up Common Facility Centres and introducing modern technology. The PIDC provided seed money for their establishment. However, the companies had their own independent management and boards, directly appointed by the government, relevant department stated. The committee was informed that the seed money provided is not recovered, rather it is treated as a grant or donation. The committee was apprised of the current status of PIDC projects. It was informed that Bin Qasim Industrial Park – SEZ (Karachi, Sindh), Korangi Creek Industrial Park – SEZ (Karachi), and Rachna Industrial Park – SEZ (Sheikhupura) have been developed. Naushahro Feroze Industrial Park – SEZ (Sindh) is currently under development. Block-A of Karachi Industrial Park – CPEC SEZ has received PC-1 approval (Rs7.4 billion), and the tendering process is underway. Additionally, Sargodha Industrial Park (Punjab) is also being developed. Following the briefing, Senator Saleem Mandviwalla expressed concerns regarding the Port Qasim area, stating that a significant land has no industrial unit established and land is so expensive that an investor would have to spend most of their funds just to acquire the land, leaving little to no resources for setting up the industry. He added that such conditions are unlikely to attract foreign investors, and even if they do come, the challenges are so overwhelming that they eventually withdraw. Copyright Business Recorder, 2025
Time of India
13-05-2025
- Business
- Time of India
MahaMetro Plans 300 Buses For Last-Mile Connectivity Across City
Nagpur: In a major step towards enhancing last and first-mile connectivity, MahaMetro is in the final stages of preparing the Detailed Project Report (DPR) for procuring 300 feeder buses . Officials confirmed that the report will be submitted to the state govt within a month for approval.A senior MahaMetro official said, "The proposal to be submitted to the state govt may also be forwarded to the Union govt for final approval, depending on the state's decision. The state will first assess the financial viability and other key aspects of the project before taking a final call."This move is part of a broader effort to strengthen public transport access across Metro corridors, particularly as Phase 2 of the Nagpur Metro is under construction in full pace. The proposal for the buses stems from a review meeting chaired by Maharashtra chief secretary Sujata Saunik in January. The meeting focused on multi-modal integration and infrastructure synergy between agencies like MahaMetro, NIT, and a demand for 500 feeder buses in Nagpur was discussed. However, the DPR currently being finalised seeks approval for 300 buses at an estimated cost of Rs220 crore. "Ensuring last-mile connectivity is a key priority for us. With the expanding Metro network, reliable feeder services are essential," said a senior MahaMetro this initiative, the state has also taken steps to strengthen first-mile connectivity and promote safer travel options. Recently, CM Devendra Fadnavis announced that MahaMetro will sign a Memorandum of Understanding (MoU) to deploy pink e-rickshaws across Metro stations in Nagpur. These vehicles, aimed primarily at enhancing travel safety for working women, are part of a larger state-level scheme led by the women and child development scheme intends to distribute 5,000 pink e-rickshaws in eight districts, including 2,000 for Nagpur. Sources said that around 60 were allotted to MahaMetro in the initial phase.
Express Tribune
21-03-2025
- Business
- Express Tribune
6,000 utility stores staff to get the axe
The Senate Standing Committee on Industry and Production was informed on Friday that the framework for the privatisation of the Utility Stores Corporation (USC) was ready, under which 1,700 loss-making stores would be closed down and 6,000 employees would be sacked. The committee, which met here with Senator Aun Abbas Bappi in the chair, received a briefing on the future of the USC. The managing director of the USC told the committee that for the time being the privatisation process had been stopped because of a lack of its audit for two years. "The privatisation will take place after the audit is complete," the USC MD said, adding that 5,000 permanent employees would be sent to the surplus pool, while 6,000 employees on contracts and on daily wage basis would be laid off. He added that the USC was on the government's privatisation list. "The target is to complete the two-year audit in August 2025" after which the privatisation would be carried out, the MD stated. He also informed the committee that an initial estimate of the USC properties had been made. According to the USC MD, there were 3,200 utility stores across the country, out of which the government decided to shut down 1,700 loss-making stores. After the privatisation, only 1,500 stores would require staff. He also said that the USC's monthly losses had been reduced to Rs220 million.
Express Tribune
09-03-2025
- Business
- Express Tribune
Price control efforts fail
Commissioner announces 20 Ramazan Bazaars for three districts in Sahiwal division. PHOTO: EXPRESS/FILE The district administration's 60 price control magistrates and assistant commissioners seem helpless in tackling the soaring cost of essential commodities. Ramazan bazaars, once a source of relief for the public, have lost their purpose due to a lack of subsidies, while utility stores across the city stand deserted because there are no discount packages this year. The situation has forced people to boycott fruits altogether as prices spiral beyond their reach. At present, sugar is being sold for Rs170 per kg, white chickpeas at Rs400 per kg, and lentils at rates that continue to pinch consumers' pockets. Meat prices are no different, with chicken meat at Rs780 per kg, mutton at an eye-watering Rs2,400 per kg, and beef at Rs1,400 per kg. Dairy products have also seen a surge, with milk costing Rs220 per litre and yogurt selling for Rs240 per kg. Fruit and vegetable prices have skyrocketed, making even the most basic produce a luxury. Bananas are going for Rs300 per dozen, oranges for Rs600 per dozen, and dates range from Rs700 to Rs1,600 per kg. Even traditional Ramazan snacks aren't spared, with samosas costing Rs600 per dozen, pakoras ranging from Rs650 to Rs700 per kg, and kachori priced at Rs180. With no relief in sight, citizens are growing increasingly frustrated, demanding stricter price regulations and immediate government intervention.
Express Tribune
20-02-2025
- General
- Express Tribune
CII prescribes Sadqa-e-Fitr, Fidya rates
The Council of Islamic Ideology (CII) Chairman Dr Raghib Hussain Naeemi on Thursday announced the current year's prescribed rates for Sadqa-e-Fitr and Fidya to be paid by the people with means to the underprivileged individuals. Sadqa-e-Fitr is obligatory for every Muslim, slave or free, male or female, young or old, who possesses the means, Dr Naeemi said. He announced that the minimum amount for Sadqa-e-Fitr and Fidya per person was Rs220 this year. According to the announcement the rates could vary based on different commodities.
