Employees will be paid a severance package, dues and compensation during the closure
Commerce Reporter, Daily Dawn, Dawn TV Report
Islamabad: The Economic Coordination Committee (ECC) has approved a funding plan for the closure of the Utility Stores Corporation.
Regarding the closure of utility stores, the government has approved a supplementary budget of Rs 30.21 billion to complete the process. Under the plan, employees will be paid a severance package, dues and compensation during the closure.
In this regard, the Ministry of Industries and Production has been directed to take steps to further reduce financial requirements.
It was decided in the ECC meeting that the assets and properties of utility stores will be sold in the current financial year, and the proceeds from their sale will partially cover the closure expenses. The committee has emphasized that this process should be carried forward in a transparent and orderly manner.
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