ISLAMABAD:

The government on Thursday approved Rs25 billion in severance package in order to sack another 6,878 employees of Utility Stores Corporation (USC), bringing down the curtain on a half-a-century-old entity that served the underprivileged with subsidised goods through its 5,600 outlets.

Established in 1971, the USC had been catering to the needs of underserved people by providing them essential food items at subsidised rates and also acted as a price moderator.

However, after years of mismanagement due to the appointment of inexperienced people at managerial positions, the USC ran into losses, prompting the government to close it.

"The Economic Coordination Committee of the cabinet approved a technical supplementary grant of Rs30.2 billion to ensure the smooth closure of USC,"

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