The Economic Coordination Committee approved Rs11.329 billion to meet immediate funding requirements of the Utility Stores Corporation and facilitate completion of its closure process. The decision was taken at the October 8 meeting chaired by Finance Minister Muhammad Aurangzeb. According to the government’s account, the committee considered 17 agenda items relating to financing, infrastructure, institutional reforms and development measures. The Utility Stores allocation followed a proposal from the Industries and Production Division. The announcement does not provide a detailed allocation between employee-related obligations, suppliers and other liabilities, so those categories should not be assigned unverified amounts. Approval of the grant also does not prove that the corporation’s closure has been completed or that all outstanding obligations have been settled. At the same meeting, the ECC approved Rs10 billion in budgetary cover for the Thar Coal Rail Connectivity Project, Rs8 billion for the Public Private Partnership Authority and Rs2 billion for the Small and Medium Enterprises Development Authority’s business plan. Those decisions provide context but are distinct from the Utility Stores closure. Further reporting should focus on the implementation timetable and the treatment of employees, assets and liabilities.
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