The administration of the Utility Stores Corporation (USC) has issued a formal circular announcing the termination of all employees, effective September 1.
Under the decision, 11,406 employees of the corporation will receive a government-approved financial package.
The Ministry of Industries has finalized a Rs. 25.5 billion payment package for employees affected by the restructuring of Utility Stores Corporation, according to official documents. The package covers regular, contract, and daily wage staff, as well as allocations for widows and institutional closure costs.
According to the official statement, permanent employees with up to two years of service will receive full salaries for the remaining months. Employees with over 20 years of service will be compensated with two current basic salaries for each completed year. Meanwhile, those with up to 20 years of service will be entitled to either three current basic salaries for each completed year or 1.25 times their current basic salary for the remaining months.
The Utility Stores Corporation currently employs 5,229 regular workers, for whom Rs. 13.18 billion has been set aside. For the 3,323 contract employees, Rs. 3.6 billion has been earmarked, while the 2,854 daily wage workers will receive benefits worth Rs. 2.71 billion.
Additionally, Rs 5.75 billion has been allocated for organizational wind-up expenses and support for widows of deceased employees.
Here is the breakdown of packages between regular and contract employees:
Regular Employees
- Employees with two years or less to retirement: Rs. 357 million reserved, with each of the 230 workers to receive around Rs. 1.52 million.
- Employees with over 20 years of service: Rs. 2.21 billion allocated, entitling each to Rs. 3.44 million.
- Employees with less than 20 years of service: Rs. 10.61 billion set aside, with each to receive Rs. 2.43 million.
Contract Employees
- Employees with two years of service remaining: Rs. 17 million allocated, with each to get Rs. 414,000.
- Employees with over 16 years of service: Rs. 2.97 billion allocated, with each receiving Rs. 1.127 million.
- Employees with up to 16 years of service: Rs. 611.5 million set aside, with each entitled to Rs. 947,000.
Awesome . Finally another nail in the coffin of this country . Another Nepal
Hahha you don’t even know about nepal . I can challenge you on this.
Ok prove it . Waiting.
Zalim Hukumran Allah Kay Samnay jawabda hongay.
Lets see how long govt will take to close pia and railway
And of course military Pvt ltd., the white elephant and useless gutter inst.
3840325035321
Karak gareb logo kiliye utility store Pakistan ki taraf say Asan chezy dy sakty hay
goverment should pay greater amount of utility store employee has comparision of other goverment insititutes