Islamabad, May 13, 2025: Despite previous denials, the federal government has announced its decision to privatize the Utility Stores Corporation (USC), a network of outlet that provides subsidized food and essential items to the poor.
This decision was confirmed by Federal Minister for Privatization Abdul Aleem Khan, who submitted a written reply during the National Assembly’s question session.
USC has now been officially added in the list of state-run institutions set for privatization.
READ MORE: Utility Stores Corporation Launches Affordable Utility Ghee Brand
The authorities have intended to privatize a total of 24 government-owned administrations over the current and the next four financial years, the Ministry of Privatization stated.
The ministry further added that the organizations that have constantly generated financial losses will be prioritized.
The list of companies decided for privatization includes major organizations such as Pakistan International Airlines (PIA) and several regional electric supply companies.
Additionally, First Women Bank, House Building Finance Corporation (HBFC), and Zarai Taraqiati Bank Limited (ZTBL) are also included in the privatization list.
READ MORE: Sugar Prices Surge Again at Utility Stores
Also organization such as Pakistan Engineering Company (PECO), Sindh Engineering Limited, and twelve firms operating in the power generation and distribution sector are included.
Overseas assets, including the Roosevelt Hotel located in the United States are also part of this privatization drive as well.
Additionally, major state-owned insurance companies namely the State Life Insurance Corporation and Pakistan Reinsurance Company Limited are also selected for transfer to the private sector, alongside Utility Stores Corporation.
This move has raised eyebrows as government had earlier stated that it has intentions to reform and restructure the Utility Stores Corporation rather than privatizing it.
