USC records Rs100b annual turn over in 2020

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Staff Reporter

Islamabad

Utility Stores Corporation of Pakistan (USC) stands tall with a turnover of around Rs. 100 billion during the calendar year, 2020 as compared to Rs. 10 billion turnover of last calendar year.
On achieving this benchmark, Mr. Umer Lodhi, Managing Director USC said that USC is now an almost debt free and self-sustained corporation. He further said that, USC now intends to carry out highly progressive restructuring with a consolidated view to provide customer-centric approach and is expected to acquire another milestone with a turnover of Rs. 150 billion till fiscal year 2021.
From a loss making entity to one of the leading contributors in national exchequer, USC ensuredfood security through uninterrupted supplies of staple food items during the year. 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.
USC served 45.77 million households during the year through its largest retail network of 4,881 stores in rural as well as urban areas. Also, USC is providing financial relief to people of Pakistan through Prime Minister’s Relief Package since January, 2020.
The prices of subsidized food items (wheat flour, rice, sugar, pulses, ghee) has remained same throughout the year, assisting government to maintain prices in the open market.
USC is about to establish Information Technology (IT) infrastructure during the next fiscal year as the data center is already deployed in its head office.