The federal government has decided to close utility stores across Pakistan due to financial challenges, according to Saif Anjum, Secretary of the Industry and Production Ministry. In a briefing to the Senate Standing Committee, Anjum explained that this decision is part of broader cost-cutting measures aimed at addressing the country’s financial difficulties.
The closure of utility stores is part of a plan developed by the rightsizing committee, which aims to reduce expenses by shutting down various government entities. With the government facing significant financial constraints, operating these stores has become unsustainable.
The proposal for closing the stores will need to be approved by the cabinet secretary before being presented to the full cabinet for final approval. Once the plan is approved, a timeline for the store closures will be established.
This move is part of a larger five-year privatization program approved by the federal cabinet, which will be implemented in three phases. The initial phase involves privatizing entities such as Pakistan International Airlines (PIA), the House Building Finance Corporation (HBFC), and several electric supply companies. The subsequent phases will include the privatization of additional entities, including utility stores and other government-owned corporations.
This decision reflects the government’s efforts to manage financial limitations and streamline operations in the face of economic challenges.
