USC earns Rs 35 bil­lion profit: NA told

The Pak Banker - - NATIONAL -

Par­lia­men­tary Sec­re­tary for In­dus­tries and Pro­duc­tion Rao Aj­mal on Fri­day in­formed the Na­tional As­sem­bly that Util­ity Store Cor­po­ra­tion (USC) net­work con­sisted of some 5,600 out­lets across the coun­try and earned Rs.35 bil­lion profit.

Re­spond­ing to a Call­ing At­ten­tion No­tice raised by Ab­dul Sat­tar Bachani and oth­ers re­gard­ing non-pro­vi­sion of sub­sidy on the es­sen­tial com­modi­ties at the util­ity stores, he con­ceded that no sub­sidy was be­ing pro­vided on es­sen­tial com­modi­ties in USC.

How­ever, he said that prices of var­i­ous items at USC were less than open mar­ket. Sub­sidy was be­ing pro­vided on sugar at USC but it was dis­con­tin­ued on April 15, 2015, he said. He claimed that USC was a big in­sti­tu­tion of South Asia with 14000 em­ploy­ees.

Aj­mal also called for pro­vi­sion of sub­si­dies on es­sen­tial items in­clud­ing flour, sugar, ed­i­ble oil be­sides open­ing more USC.

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