Utility Stores to shut down operations, terminate employees

ISLAMABAD: The government has decided to close an additional 1,000 Utility Stores by the end of the current fiscal year, ARY News reported quoting official documents.

As per details, the decision includes terminating the services of daily wage employees working at these stores. Out of the existing 5,500 Utility Stores nationwide, only 1,500 will remain operational after the closure of financially unviable outlets.

The document further revealed that the remaining stores are slated for privatization to improve their financial sustainability.

To date, 2,237 employees have already been sacked from Utility Stores. Authorities noted that the stores received a subsidy of Rs. 38 billion in the last fiscal year, but the allocated Rs. 60 billion subsidy for the current fiscal year has not been provided.

The closure of 1,000 additional financially weak stores is part of efforts to streamline operations amid fiscal constraints.

Read more: Utility Stores Corporation ‘records’ 17% increase in monthly sales

Earlier, the government replaced the managing director (MD) of Utility Stores Corporation.

As per details, the government appointed Faisal Nisar Chaudhry as new MD of Utility Stores Corporation by removing Mr. Mohammad Ali Aamir.

Faisal Nisar Chaudhry was discharging his duties as DG Secretariat Training Institute prior to his new appointment.

The notification regarding Nisar’s appointment as MD Utility Stores Corporation has been issued.

Additionally, Grade 21 officer Adil Akbar Khan has been appointed as Senior Joint Secretary of the Water Resources Division, while Nilofar Hafeez has been posted as Joint Secretary of the Planning Division.

OSD Kashif Gulzar has been appointed as Joint Secretary of the Commerce Division.