{"id":72966,"date":"2025-05-04T16:24:41","date_gmt":"2025-05-04T11:24:41","guid":{"rendered":"https:\/\/dailyausaf.com\/en\/?p=72966"},"modified":"2025-05-04T16:24:41","modified_gmt":"2025-05-04T11:24:41","slug":"utility-stores-employees-to-get-terminated-by-this-date","status":"publish","type":"post","link":"https:\/\/dailyausaf.com\/en\/pakistan\/utility-stores-employees-to-get-terminated-by-this-date\/","title":{"rendered":"Utility Stores employees to get terminated by THIS date"},"content":{"rendered":"

ISLAMABAD: The International Monetary Fund<\/a> (IMF) has requested<\/span> Pakistan to remove<\/span> more<\/span> employees<\/span> of<\/span> the<\/span> Utility Stores Corporation,<\/span> by June 30,<\/span> 2023<\/span> in<\/span> the<\/span> third<\/span> phase<\/span> of the<\/span> right sizing policy,\u00a0citing sources.<\/p>\n

Sources<\/span> said<\/span> that<\/span> approximately<\/span> 2,237 daily wage workers have already been dismissed<\/span> in the first phase,<\/span> and now<\/span> in the second phase, approximately 2,800 contract employees<\/span> from grades 1–<\/span>13\u00a0will be dismissed,<\/span> and<\/span> the<\/span> employees<\/span> of<\/span> grade 14 and above will be placed<\/span> in<\/span> a surplus pool by the same deadline.<\/p>\n

The government also decided to shut<\/span> down<\/span> about<\/span> 1,000 utility<\/span> stores<\/span><\/a> that<\/span> are<\/span> financially<\/span> weak<\/span> by the end of the fiscal year, reducing the number from 5,500 stores<\/span> to 1,500 stores<\/span>.<\/p>\n

Daily wage employees<\/span> and<\/span> workers at these stores will also be removed<\/span>. The remaining stores will<\/span> then<\/span> be<\/span> privatized<\/span>, according<\/span> to<\/span> written<\/span> documents.<\/p>\n

Last year, Utility Stores received a Rs38 billion subsidy, but the Rs60 billion that<\/span> has<\/span> been<\/span> earmarked<\/span> for the current year has not yet<\/span> been disbursed, according<\/span> to<\/span> officials<\/span>.<\/p>\n

It is worth mentioning that the International Monetary Fund (IMF) Executive Board meeting is taking<\/span> place<\/span> on<\/span> May 9, and<\/span> Pakistan‘<\/span>s<\/span> economic<\/span> situation<\/span> is<\/span> on the agenda.<\/p>\n

The<\/span> IMF Board<\/span> is expected to approve a disbursement of $1.1 billion for Pakistan as<\/span> part<\/span> of<\/span> the<\/span> ongoing financial program. According to an<\/span> IMF statement, the<\/span> first Review under the Extended Arrangement under the Extended Fund Facility (<\/span>EFF<\/span>)<\/span>, the request for modification of performance criteria, and the request for an arrangement under the Resilience and Sustainability Facility (<\/span>RSF<\/span>)<\/span>,<\/span> all<\/span> taking<\/span> place on May 9 during<\/span> the<\/span> Board<\/span> meeting<\/span>.<\/p>\n

In<\/span> addition<\/span>, Pakistan has also received<\/span> $1.3 billion in climate financing from the IMF<\/span>,<\/span> according<\/span> to<\/span> the<\/span> IMF Director of Communications,<\/span> Julie Kozac.<\/p>\n

Last month Pakistan and the IMF<\/span> reached a staff-level agreement on the first review under Pakistan‘<\/span>s 37-month $7bn Extended Fund Facility (EFF) and a new 28-month $1.3bn arrangement under the Resilience and Sustainability Facility (RFS<\/span>).<\/p>\n","protected":false},"excerpt":{"rendered":"

ISLAMABAD: The International Monetary Fund (IMF) has requested Pakistan to remove more employees of the Utility Stores Corporation, by June 30, 2023 in the third phase of the right sizing policy,\u00a0citing sources. Sources said that approximately 2,237 daily wage workers have already been dismissed in the first phase, and now in the second phase, approximately […]<\/p>\n","protected":false},"author":9,"featured_media":45944,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[3756,160,28409,28410],"class_list":["post-72966","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-pakistan","tag-extended-fund-facility","tag-imf","tag-utility-employees","tag-utility-store-employees"],"_links":{"self":[{"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/posts\/72966","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/users\/9"}],"replies":[{"embeddable":true,"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/comments?post=72966"}],"version-history":[{"count":1,"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/posts\/72966\/revisions"}],"predecessor-version":[{"id":72967,"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/posts\/72966\/revisions\/72967"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/media\/45944"}],"wp:attachment":[{"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/media?parent=72966"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/categories?post=72966"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/tags?post=72966"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}