ISLAMABAD: The Senate was informed today that there is no plan to close the operations of Utility Stores Corporation (USC). Minister for Industries and Production, Rana Tanveer Hussain, told the House during the Question Hour that restructuring of the Utility Stores Corporation is underway to make it more viable in terms of business and its day-to-day operations. The Minister assured that during the restructuring, the rights of the utility stores’ employees will be properly safeguarded.
According to Radio Pakistan, Minister for Planning Ahsan Iqbal informed the House that a total of 200 Public Sector Development Programme (PSDP) projects are underway in Balochistan, with an estimated cost of 1429 billion rupees. An amount of 130 billion rupees has been earmarked for these projects. He emphasized the importance of improving the administrative capacity of provinces for better service delivery of funds and resources after allocations.
Minister of State for Finance Ali Pervaiz Malik, responding to a question in
the House, stated that the inflation rate is decreasing every month due to effective measures by the government. He highlighted that prices of major food items and essential goods have decreased, with wheat flour prices down by over 35 percent, petrol by 23.5 percent, and high-speed diesel by 22.5 percent, among other reductions in costs.
Additionally, Minister for Industries and Production, Rana Tanveer Hussain, mentioned that the government is formulating a policy to promote the usage of Electric Vehicles, which will be unveiled during the current month. The government has identified locations for establishing forty charging points at motorways to facilitate electric vehicle users. The Engineering Development Board has issued fifty-one assembling and manufacturing certificates to produce two and three-wheeler electric vehicles in the country, and thirty-one companies have applied for licenses to produce four-wheelers.
Minister of State for Finance Ali Pervaiz Malik, responding to a Calling Attention Notic
e moved by Senator Zeeshan Khanzada, informed the House that steps are being taken to control inflation. The State Bank has reduced the interest rate to 13.5 percent, with expectations of further reductions to benefit the industrial sector and common citizens.
Furthermore, Minister for Law and Justice Azam Nazeer Tarar laid before the House ‘The Supreme Court (Practice and Procedure) (Amendment) Ordinance 2024. The Deputy Chairman referred the Ordinance to the Standing Committee concerned and also extended felicitations to the Hindu community on the occasion of Diwali. The House will reconvene on Monday at 4:30 p.m.