By Asghar Ali Mubarak
ISLAMABAD: The annual turnover of The Utility Stores Corporation of Pakistan (USC) was recorded around Rs100 billion during the calendar year, 2020 as compared to Rs10 billion turnover of last calendar year. On achieving this benchmark, Umer Lodhi, Managing Director USC said that USC was now an almost debt free and self-sustained corporation.
He further said that, USC now intended to carry out highly progressive restructuring with a consolidated view to provide customer-centric approach and was expected to acquire another milestone with a turnover of Rs150 billion till fiscal year 2021.
From a loss making entity to one of the leading contributors in national exchequer, USC ensured food security through uninterrupted supplies of staple food items during the year, said USC statement issued here Tuesday.
The corporation USC contributed Rs. 8.564 billion in national exchequer during the fiscal year 2019-20 as compared to fiscal year 2018-19 in which USC paid Rs. 1.476 billion tax. The USC served Rs45.77 million households during the year through its largest retail network of 4,881 stores in rural as well as urban areas.
Also, USC has been providing financial relief to people of Pakistan through Prime Minister’s Relief Package since January, 2020, the statement said adding the prices of subsidized food items (wheat flour, rice, sugar, pulses, ghee) had remained same throughout the year, assisting government to maintain prices in the open market.
