The Economic Coordination Committee (ECC) of the federal cabinet has directed the Ministry of Industries to expedite the sale of Utility Stores Corporation (USC) properties as the government moves forward with the closure and liquidation of the state-owned retail chain.
According to a report published by The Express Tribune, the Utility Stores Corporation owns 21 properties valued at approximately Rs12.045 billion. During a recent meeting, the ECC instructed the industries secretary to ensure the timely disposal of these assets under the government's approved process.
The Ministry of Industries has already initiated the sale process through the Privatisation Commission under the Privatisation Commission Ordinance, 2000. However, the proposed disposal still requires approval from the commission and the Cabinet Committee on Privatisation. A committee headed by the Securities and Exchange Commission of Pakistan has been formed to review the matter and recommend the next steps.
Meanwhile, the ministry requested financial assistance to settle the corporation's outstanding liabilities. The ECC approved a technical supplementary grant of Rs11.329 billion, while an additional requirement of Rs21.529 billion will be considered separately in consultation with the Finance Division. The division has also advised the corporation to accelerate efforts to generate revenue through property sales.
Utility Stores Corporation operations were suspended nationwide on July 31, 2025, following directions from the prime minister and the federal cabinet. Under the approved closure plan, the total cost was estimated at Rs40.151 billion, with Rs13.822 billion expected to be recovered through the sale of USC assets.
The ministry also informed the ECC that 11,083 employees had been laid off. A severance package worth Rs8.146 billion was paid to 9,119 employees following third-party verification, while 326 essential staff members have been retained by the USC board to complete the remaining tasks.
The proposed sale could create new opportunities for investors and businesses interested in acquiring government-owned commercial properties. Once the required approvals are secured, the disposal of these 21 properties may attract bidders and introduce additional commercial real estate opportunities in the areas where the assets are located.
