ISLAMABAD: The Economic Coordination Committee (ECC) of the cabinet on Thursday approved about Rs40 billion to wind up the Utility Stores Corporation (USC), including payments of terminal benefits to employees and clearing liabilities of vendors and suppliers.

The meeting, chaired by Finance Minister Muhammad Aurangzeb, sanctioned a technical supplementary grant of Rs30.216bn for the closure of USC, according to an official statement. Another Rs9.935bn to settle vendors’ dues will be budgeted in 2026-27. The ECC also directed the Ministry of Industries and Production to rationalise financial requirements for the winding-up process.

The committee decided that USC’s assets, including properties, would be disposed of within the current fiscal year to partly cover closure costs. The government stressed that the package was designed to protect employees’ rights while maintaining fiscal discipline.

Breakdown of package

Of the Rs30.216bn, Rs13.225bn has been allocated for a severance package to regular employees. Another Rs5.751bn........

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