AS Pakistan races to meet the International Monetary Fund’s (IMF) conditions, two iconic state institutions — the Utility Stores Corporation (USC) and Pakistan Railways — have emerged as mascots of an aggressive effort to halt the financial haemorrhaging caused by state-owned enterprises.

Once a cornerstone of low-income support, the USC has all but collapsed. From nearly 6,000 outlets, the chain is down to just 1,500, with over 1,700 stores shut and 11,000 employees sacked between March and April 2025. Thousands more are being offered voluntary separation as the finance ministry targets a complete closure by July 31. With losses crossing Rs15.5 billion in just six months and IMF directives demanding 1,000 closures, the USC’s end looks irreversible.

But the collapse isn’t just economic; it’s human. Local media reported mass protests as daily wagers and contract workers were let go without severance. For many communities, these stores were the last line of affordable access to essentials. Now, that safety net is gone.

Pakistan Railways, too, is quietly inching toward privatisation. After initial bidding rounds failed to attract viable interest in mid-2024, the government revised terms and successfully handed over four trains — including the Chenab and Mehran Express — to private operators.

Now, ele­ven more routes, including the Rawal and Millat Express, are being readied for handover.

While the aim........

© Dawn Business