Cabinet Approves Dissolution of Utility Stores Corporation, PM Ensures Protection of Employees’ Rights

APP

Islamabad: Prime Minister Muhammad Shehbaz Sharif on Friday directed that the dissolution process of the Utility Stores Corporation (USC) be carried out with full transparency, ensuring complete protection of employees’ rights.

The federal cabinet, chaired by the Prime Minister, unanimously approved the dissolution of USC following the suspension of its operations nationwide on July 31, 2025. The meeting began with a special prayer for those who lost their lives in the recent rains and floods across the country.

The Prime Minister thanked cabinet members who personally visited flood-hit areas to monitor rescue and relief efforts.

Highlighting agriculture as the backbone of Pakistan’s economy, PM Shehbaz emphasized reducing farmers’ production costs to improve output. He announced the formation of a high-level committee on fertilizer pricing and related issues, comprising:

• Minister for Climate Change Dr. Musadik Malik
• Minister for Petroleum Ali Pervez Malik
• Minister for National Food Security Rana Tanveer Hussain
• Adviser Muhammad Ali
• Special Assistant on Industry Haroon Akhtar

To spur industrial growth, the cabinet also gave in-principle approval to amend the Special Economic Zones Act, 2012, aiming to make Pakistan more business- and investor-friendly.

“With the grace of Almighty Allah, Pakistan’s economy is stabilizing and moving towards growth,” remarked the Prime Minister, stressing that expanding industries would not only boost exports but also create new jobs.

The cabinet also approved the presentation of the Annual Report of the National Economic Council (NEC) for FY 2023-24 in Parliament and endorsed decisions of the Economic Coordination Committee (ECC) on August 19 and the Cabinet Committee on Legislative Cases (CCLC) on August 18.