2 min read
The federal government has formally announced the termination of all employees of the Utility Stores Corporation (USC), effective September 1. A financial package worth Rs25.5 billion has been approved to settle dues and cover wind-up costs.
According to official documents, Rs13.18 billion has been allocated for 5,229 regular workers, Rs3.6 billion for 3,323 contract staff, and Rs2.71 billion for 2,854 daily wage employees. An additional Rs5.75 billion will support widows of deceased staff and organizational closure expenses.
For permanent employees, the compensation plan varies with years of service. Those with two years or less to retirement will receive full salaries for the remaining period. Employees with over 20 years of service will get two current basic salaries per completed year, while those with under 20 years of service will receive three current basic salaries per year or 1.25 times the basic salary for the remaining months.
Contract employees will also be compensated under similar formulas. Those near retirement are entitled to their remaining salaries, while long-serving staff will receive larger payouts.
Authorities say dues will be paid in phases, and oversight committees will monitor disbursements to ensure transparency during the closure process.
