The Utility Stores Corporation (USC) officially shut down its operations on Thursday, following the July 31 deadline that had been issued earlier this month for winding up the state-owned enterprise (SOE).
A USC notification issued by the Ministry of Industries and Production stated that the decision followed directives from Prime Minister Shehbaz Sharif on June 28, as well as a board of directors meeting held earlier this month.
"All the sales and purchases at utility stores have been closed with effect from July 31, except shifting of stock from stores to warehouses and returned to vendors and handing-taking of stores' inventories," the notification read, directing strict compliance with the order.
Additionally, sales through the business-management suite Odoo have been permanently discontinued as of today, a second USC notification read. "All point of sale systems connected with Odoo will be rendered inactive across all stores effective July 31," the notice read.
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