Utility Stores Corporation sees record sale, profit

ISLAMABAD: The Utility Stores Corporation (USC) has witnessed the highest sale in Pakistan’s history during the financial year 2022-23.

Sources in the UCC said that the countrywide outlets reported an annual sale of over Rs137 billion with a net profit over Rs760 million.

Read more: Branded ghee and cooking oil prices reduced nationwide at Utility Stores

The current inflation has led to a steep hike in prices of all basic commodities in the open market, forcing a majority of people to turn to heavily subsidised items in utility stores to get affordable daily use items.

The reduced prices on wheat, ghee, sugar, tea and rice in the utility stores saw record sales in the previous financial year.

Read more: Branded tea prices reduced at Pakistan’s Utility Stores

As per the sources, the USC has seen huge profits for the three years in a row now. From 2021 to 2022, the corporation saw sales of over Rs112 billion.

Similarly, utility stores saw a sale of over Rs120 billion in 2020-21, Rs53.32 billion in 2019-20 and Rs9.685 billion 2018-19. It, however, recorded a net loss of over Rs6 billion in 2018-19.