Minister for Industries and Production Rana Tanveer Hussain announced on Monday that the government is not considering proposals to close the Utility Stores Corporation (USC).

The announcement follows reports that the government was considering shutting down the USC as part of a plan to reduce its engagement in business ventures. The secretary Industries and Production recently said that the work was in progress to transfer the employees of the USC to other institutions.

Rana Tanveer Hussain made the remarks in Islamabad while speaking with a delegation of the USC, according to a statement released by the Ministry of Industries and Production.

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The Secretary of Industries and Production as well as the Managing Director of USC attended the meeting.

Speaking on the occasion, Rana Tanveer Hussain said that various options for the restructuring of the USC are being explored to enhance transparency.

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The minister said that a new subsidy mechanism is also being developed.

Hussain emphasised that no unilateral action will be taken by the government to close down the Utility Stores Corporation.

He said all decisions will be made with the consultation of employees and all stakeholders and the interests of all government employees will be protected.