The Economic Coordination Committee (ECC) of the Cabinet on Thursday approved a technical supplementary grant of Rs30.216 billion for the closure of the Utility Stores Corporation (USC) of Pakistan.

The meeting, chaired by Finance Minister Muhammad Aurangzeb, endorsed the government’s plan to wind down the state-run retail chain, emphasising that employees will receive severance packages, dues, and compensation during the process.

According to details, the ECC directed the Ministry of Industries and Production to further rationalise financial requirements to minimise fiscal pressure.

It was also decided that USC’s assets, including properties, would be sold within the current financial year. Proceeds from these sales will be used to partially finance the closure expenses.

The committee stressed that the entire process should be carried out in a transparent and well-structured manner, ensuring both fiscal discipline and the protection of employees’ welfare.

The move marks a significant step toward restructuring Pakistan’s loss-making state-owned enterprises, with the government seeking to reduce financial burdens while ensuring a smooth transition for USC’s workforce.