Federal Government Decides to Close Utility Stores and 15 Other Departments

 

The federal government has decided to close Utility Stores along with 15 other key departments, including Pakistan Engineering Council, National Fertilizer, SMEDA, and others. As part of this decision, subsidies on items available at Utility Stores have already been terminated, and the government has given the administration two weeks to complete the closure process.

As a result of the closure of Utility Stores, there is a concern that over 11,000 individuals may lose their jobs. Among these employees, 6,000 are permanent while the remaining are on contract or daily wages. The government has provided a two-week period to manage the financial aspects of the closure, which will assist in settling outstanding matters. The risk of unemployment has increased, and preparations for employee protests have already begun.

Following the closure of Utility Stores, the prices of goods nationwide will align with general market rates, which have already been a source of inflation for the public. With the removal of subsidies, the original purpose of Utility Stores—to provide affordable goods—will be nullified. This will lead to severe financial difficulties for low-income groups, and the increase in prices will further affect the purchasing power of consumers.

The government has justified the closure of Utility Stores and other departments based on financial and administrative reasons. A government statement explained that this measure was necessary to improve the national budget and enhance the performance of these institutions. The government has stated that continuing subsidies is no longer feasible and that this step was taken to reduce the financial burden. Further explanations and actions will be provided by the government at a later date.

In response to the closure of Utility Stores, the government may consider new subsidy programs or measures to reduce prices to continue providing support to the public. Additionally, solutions for the issue of employee unemployment may include creating new job opportunities or implementing welfare projects. The impact of these decisions and the measures taken by the government will become clearer in the future, aiming to alleviate the difficulties faced by both the public and employees.

USC Takes a Stand Against Federal Government's Decision to Close Utility Stores.

The federal government's decision to close the Utility Stores Corporation (USC) has sparked widespread concern across the country. If the plan goes ahead, millions of Pakistanis will lose access to affordable essential goods. In response to the government's decision, USC management has decided to mount a strong resistance and seek assistance from Parliament. The plan involves closing not just USC, but also 15 other significant departments, including the Pakistan Engineering Council, National Fertilizer Corporation, SMEDA, and others. The decision aims to address financial challenges and reduce the burden on the national budget. Subsidies on items at Utility Stores have already been removed, and the process of closing these stores is expected to be completed within two weeks.

The decision to shut down Utility Stores has left thousands of employees facing an uncertain future. USC management is now reaching out to Parliament, including both the National Assembly and Senate committees on Industry and Production, to voice their concerns. The goal is to highlight the potential impacts of the store closures and to seek alternative solutions. The committees will be informed about the negative effects of the store closures, including the loss of jobs for employees and the disruption in access to affordable goods for the public. USC has requested that this issue be raised in Parliament so that a decision can be made and possible alternatives can be explored.

The impact of the Utility Stores' closure will be most severe for the employees. According to USC, over 11,000 employees could lose their jobs as a result of this decision. Among these, 6,000 are permanent employees, while the remainder are on contract or daily wages. The issue of unemployment is becoming increasingly serious, and it will have a significant adverse effect on their lives. Additionally, millions of Pakistanis will lose access to a key source of affordable goods. Utility Stores were originally intended to provide essential items at lower prices, but with the removal of subsidies and the decision to close the stores, this objective will be compromised. Lower-income families, who rely on these stores for affordable goods, will face severe financial difficulties.

The federal government has justified the closure of Utility Stores and other departments by citing financial and administrative reasons. The Secretary of Industry and Production explained that the decision was made due to the government's financial constraints and budget shortfalls. The Right-Sizing Committee prepared these recommendations, which include the closure of various ministries and departments. The Secretary stated that the government's financial resources are limited, which has led to the decision to close Utility Stores along with other departments. After cabinet approval, a timeline for the closure will be set, and the stores will be shut down according to this schedule. The Cabinet will also review and approve the Right-Sizing Committee’s proposals for closing other departments.

During a Senate committee meeting, Senator Saifullah Niazi questioned whether the government is indeed moving forward with closing Utility Stores. The Secretary of Industry and Production confirmed that the government is considering this move and is working on plans to transfer employees to other institutions. He further explained that the government aims to exit non-essential businesses, as providing relief at stores disrupts market competition.

Following the closure of Utility Stores, the government may consider new subsidy programs or price reduction measures to provide relief to the public. Additionally, to address the issue of unemployment among former employees, the government might implement new job creation programs or social welfare projects. Future actions and decisions by the government will determine how effectively they can address the challenges faced by both the public and employees.

Ministry of Finance Unveils New Plan to Lower Sugar Prices.

The Ministry of Finance has announced a new comprehensive strategy to address the rising sugar prices in Pakistan. The strategy aims to regulate both retail and wholesale sugar prices to prevent unjustified price hikes and maintain stability in the market. The government will closely monitor sugar prices and respond quickly to any unexpected changes.

Sources from the Ministry of Finance revealed that a detailed review of the factors contributing to the rise in sugar prices will be conducted. This review will include supply and demand dynamics, production costs, and other market factors. Daily monitoring of prices will be implemented to address any irregularities promptly. The Ministry of Finance will work closely with the Ministry of Industries to stay updated on current market conditions and take necessary actions based on real-time information.

The government also emphasizes transparency in its approach. Updates on price control measures and market conditions will be regularly communicated to the public. Additionally, the government is considering additional support measures, such as subsidies for sugar producers or adjustments in imports, to stabilize the market and alleviate the financial burden on consumers.

This strategy represents a crucial step towards stabilizing sugar prices, improving consumer affordability, and easing economic pressure. Stay tuned with PK Story for more updates and detailed information on this significant issue.