ISLAMABAD: Utility Stores Corporation (USC) has recorded the highest sales in the history of Pakistan during the financial year 2022-23.
Sources in UCC said the nationwide outlets posted annual sales of over Rs 137 billion with a net profit of over Rs 760 crore.
The current inflation has led to a sharp increase in the prices of all basic commodities in the free market, forcing most people to turn to heavily subsidized items in stores to get affordable daily necessities.
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Reduced prices of wheat, ghee, sugar, tea and rice in stores saw record sales in the previous financial year.
According to sources, USC has posted huge gains for three consecutive years. From 2021 to 2022, the company has recorded revenues of over Rs 112 billion.
Similarly, utilities businesses saw sales of over Rs 120 billion in 2020-21, Rs 53.32 billion in 2019-20 and Rs 9.685 billion in 2018-19. However, it posted a net loss of over Rs 6 billion in 2018-19.
