Wednesday Aug 29, 2018
ISLAMABAD: The Utility Stores Corporation of Pakistan has been ordered to halt all purchases until further notice, on the directives of the Ministry of Industries and Production.
A notification, dated August 27, 2018, directed utility stores countrywide to halt all kinds of procurement until further notice.
“As directed by the Joint Secretary Ministry of Industries & Production, that during the presentation to the Federal Minister for Industries & Production, Federal Minister for Industries & Production and Secretary Ministry of Industries & Production have directed to stop all kind of procurements at Head Office, Zonal Office and Regional Office level immediately till further orders,” the notification read.
The Utility Stores Corporation of Pakistan is a state-owned enterprise that operates chain stores all over the country which provide basic commodities to the general public at prices lower than the open market due to government subsidies.
With the latest development, as many as 14,000 utility stores employees have been left in the lurch, sources said.
According to the sources, the utility stores had been incurring losses for two consecutive years, and any future action would be taken after investigating the reasons behind the losses.