NA committee concerned at privatisation of utility stores
Business
Govt to ensure payment of employees’ and vendors’ dues in two phases
ISLAMABAD (APP) - National Assembly Standing Committee on Privatization on Monday expressed serious concern over the privatisation of Utility Stores and emphasised that continuing the process despite the committee’s recommendations is highly alarming.
The committee met here under the chairmanship of Muhammad Farooq Sattar and discussed matters relating to the Privatisation of different loss making entities, said a press release.
The Secretary Ministry of Industries apprised that the operations of Utility Stores have been closed.
However, safeguarding the rights of around 10,000 to 11,000 employees remains the government’s foremost priority.
It was further informed that as long as the government was providing subsidies, Utility Stores were operating profitably. However, after the withdrawal of subsidies, the operations went into loss.
Moreover, the government will ensure the payment of employees’ and vendors’ dues in two phases, amounting to a total of Rs27 billion.
The committee directed that a detailed breakup of the outstanding dues be presented before the Committee in the next meeting.
