USC faces loss of Rs13bn in 5 years: MD USC

ISLAMABAD: Managing Director Utility Stores Corporation (USC) Friday said that the corporation had faced a loss of Rs 13 billion during previous five years whereas it was also due to pay Rs 8 billion to various companies.

He said after receiving relief from the government, the problems of USC would reduce considerably.

He said due to hard work by the USC officers and stores' staff, the sale of utility stores was increasing everyday.

"The supplier companies have also resume their supplies to the USC despite huge amount of arrears payable to them by the corporation."

He was addressing a press conference here at the USC head office.

Azam Swati said the previous government misused the corporation for its vested interests.

He said in order to resume the business of USC, he immediately after assuming the charge of Managing Director, met with the heads of suppliers companies and convinced them to resume their supplies to the corporation.

He said at present, all utility stores outlet were open and there was no shortage of any commodity at the stores.

To a question, the MD USC said that a summary to regularize the daily wagers and contract employees of USC had been sent to the ministry of industries for approval and it was hoped that all such employee would be regularized soon.