diff --git a/.gitmodules b/.gitmodules
index 1c7a6da0281..bcc9a8f3038 100644
--- a/.gitmodules
+++ b/.gitmodules
@@ -50,6 +50,9 @@
 [submodule "platform/broadcom/sonic-platform-modules-ingrasys"]
 	path = platform/broadcom/sonic-platform-modules-ingrasys
 	url = https://github.com/Ingrasys-sonic/sonic-platform-modules-ingrasys
+[submodule "src/sonic-platform-common"]
+	path = src/sonic-platform-common
+	url = https://github.com/Azure/sonic-platform-common
 [submodule "src/sonic-platform-daemons"]
 	path = src/sonic-platform-daemons
 	url = https://github.com/Azure/sonic-platform-daemons
diff --git a/dockers/docker-snmp-sv2/Dockerfile.j2 b/dockers/docker-snmp-sv2/Dockerfile.j2
index 3c547395111..0e83b230746 100644
--- a/dockers/docker-snmp-sv2/Dockerfile.j2
+++ b/dockers/docker-snmp-sv2/Dockerfile.j2
@@ -7,7 +7,7 @@ COPY [ \
     "/debs/"]
 
 # Install Python SwSSSDK (SNMP subagent dependency)
-COPY python-wheels/sonic_utilities-*-py3-*.whl /python-wheels/
+COPY python-wheels/sonic_platform_common-*-py3-*.whl /python-wheels/
 COPY python-wheels/swsssdk-*-py3-*.whl /python-wheels/
 COPY python-wheels/asyncsnmp-*-py3-*.whl /python-wheels/
 
diff --git a/files/build_templates/sonic_debian_extension.j2 b/files/build_templates/sonic_debian_extension.j2
index f861543e98c..a2bea7a6baa 100644
--- a/files/build_templates/sonic_debian_extension.j2
+++ b/files/build_templates/sonic_debian_extension.j2
@@ -77,6 +77,12 @@ sudo cp {{swsssdk_py2_wheel_path}} $FILESYSTEM_ROOT/$SWSSSDK_PY2_WHEEL_NAME
 sudo https_proxy=$https_proxy LANG=C chroot $FILESYSTEM_ROOT pip install $SWSSSDK_PY2_WHEEL_NAME
 sudo rm -rf $FILESYSTEM_ROOT/$SWSSSDK_PY2_WHEEL_NAME
 
+# Install sonic-platform-common Python 2 package
+PLATFORM_COMMON_PY2_WHEEL_NAME=$(basename {{platform_common_py2_wheel_path}})
+sudo cp {{platform_common_py2_wheel_path}} $FILESYSTEM_ROOT/$PLATFORM_COMMON_PY2_WHEEL_NAME
+sudo https_proxy=$https_proxy LANG=C chroot $FILESYSTEM_ROOT pip install $PLATFORM_COMMON_PY2_WHEEL_NAME
+sudo rm -rf $FILESYSTEM_ROOT/$PLATFORM_COMMON_PY2_WHEEL_NAME
+
 # Install SONiC Utilities (and its dependencies via 'apt-get -y install -f')
 sudo dpkg --root=$FILESYSTEM_ROOT -i target/debs/python-sonic-utilities_*.deb || \
     sudo LANG=C DEBIAN_FRONTEND=noninteractive chroot $FILESYSTEM_ROOT apt-get -y install -f
diff --git a/platform/p4/docker-sonic-p4.mk b/platform/p4/docker-sonic-p4.mk
index ebe7ceb080a..1cd15439fb7 100644
--- a/platform/p4/docker-sonic-p4.mk
+++ b/platform/p4/docker-sonic-p4.mk
@@ -3,11 +3,11 @@
 DOCKER_SONIC_P4 = docker-sonic-p4.gz
 $(DOCKER_SONIC_P4)_PATH = $(PLATFORM_PATH)/docker-sonic-p4
 $(DOCKER_SONIC_P4)_DEPENDS += $(SWSS) \
-							  $(SYNCD) \
-							  $(P4_SWITCH) \
-							  $(REDIS_SERVER) \
-							  $(REDIS_TOOLS) \
-							  $(PYTHON_SWSSCOMMON) \
+                              $(SYNCD) \
+                              $(P4_SWITCH) \
+                              $(REDIS_SERVER) \
+                              $(REDIS_TOOLS) \
+                              $(PYTHON_SWSSCOMMON) \
                               $(LIBTEAMDCT) \
                               $(LIBTEAM_UTILS) \
                               $(SONIC_DEVICE_DATA) \
diff --git a/rules/asyncsnmp-py3.mk b/rules/asyncsnmp-py3.mk
index f44d7f33653..cc0af244d85 100644
--- a/rules/asyncsnmp-py3.mk
+++ b/rules/asyncsnmp-py3.mk
@@ -3,6 +3,6 @@
 ASYNCSNMP_PY3 = asyncsnmp-2.1.0-py3-none-any.whl
 $(ASYNCSNMP_PY3)_SRC_PATH = $(SRC_PATH)/sonic-snmpagent
 $(ASYNCSNMP_PY3)_PYTHON_VERSION = 3
-# Depends on sonic-utilities so it is possible to import sonic_psu
-$(ASYNCSNMP_PY3)_DEPENDS += $(SWSSSDK_PY3) $(SONIC_UTILS_PY3)
+# Depends on sonic-platform-common so it is possible to import sonic_psu
+$(ASYNCSNMP_PY3)_DEPENDS += $(SWSSSDK_PY3) $(SONIC_PLATFORM_COMMON_PY3)
 SONIC_PYTHON_WHEELS += $(ASYNCSNMP_PY3)
diff --git a/rules/sonic-ledd.mk b/rules/sonic-ledd.mk
index aa95b46cf47..056f0f6c9bd 100644
--- a/rules/sonic-ledd.mk
+++ b/rules/sonic-ledd.mk
@@ -1,5 +1,5 @@
 # sonic-ledd (SONiC Front-panel LED control daemon) Debian package
 
-SONIC_LEDD = python-sonic-ledd_1.0-1_all.deb
+SONIC_LEDD = python-sonic-ledd_1.1-1_all.deb
 $(SONIC_LEDD)_SRC_PATH = $(SRC_PATH)/sonic-platform-daemons/sonic-ledd
 SONIC_PYTHON_STDEB_DEBS += $(SONIC_LEDD)
diff --git a/rules/sonic-platform-common.mk b/rules/sonic-platform-common.mk
new file mode 100644
index 00000000000..95789354a4d
--- /dev/null
+++ b/rules/sonic-platform-common.mk
@@ -0,0 +1,13 @@
+# sonic-platform-common package
+
+SONIC_PLATFORM_COMMON_PY2 = sonic_platform_common-1.0-py2-none-any.whl
+$(SONIC_PLATFORM_COMMON_PY2)_SRC_PATH = $(SRC_PATH)/sonic-platform-common
+$(SONIC_PLATFORM_COMMON_PY2)_PYTHON_VERSION = 2
+SONIC_PYTHON_WHEELS += $(SONIC_PLATFORM_COMMON_PY2)
+
+# Als build sonic-platform-common into python3 wheel, so we can use PSU code in SNMP docker
+# Note: _DEPENDS macro is not defined
+SONIC_PLATFORM_COMMON_PY3 = sonic_platform_common-1.0-py3-none-any.whl
+$(SONIC_PLATFORM_COMMON_PY3)_SRC_PATH = $(SRC_PATH)/sonic-platform-common
+$(SONIC_PLATFORM_COMMON_PY3)_PYTHON_VERSION = 3
+SONIC_PYTHON_WHEELS += $(SONIC_PLATFORM_COMMON_PY3)
diff --git a/rules/sonic-utilities.mk b/rules/sonic-utilities.mk
index 0dae94d8aa7..eba618d051d 100644
--- a/rules/sonic-utilities.mk
+++ b/rules/sonic-utilities.mk
@@ -1,14 +1,16 @@
 # sonic utilities package
+#
+# NOTE: sonic-config-engine is a build-time dependency of sonic-utilities
+# due to unit tests which are run during the build. However,
+# sonic-platform-common and swsssdk are runtime dependencies, and should be
+# added here also. However, the current build system assumes all runtime
+# dependencies are .deb packages.
+#
+# TODO: Create a way to specify both .deb and .whl runtime dependencies
+#       then add the aforementioned runtime dependencies here.
+#
 
-SONIC_UTILS = python-sonic-utilities_1.1-1_all.deb
+SONIC_UTILS = python-sonic-utilities_1.2-1_all.deb
 $(SONIC_UTILS)_SRC_PATH = $(SRC_PATH)/sonic-utilities
 $(SONIC_UTILS)_WHEEL_DEPENDS = $(SONIC_CONFIG_ENGINE)
 SONIC_PYTHON_STDEB_DEBS += $(SONIC_UTILS)
-
-# Build sonic-utilities into python3 wheel, so we can use PSU code
-# Note: _DEPENDS macro is not defined
-SONIC_UTILS_PY3 = sonic_utilities-1.1-py3-none-any.whl
-$(SONIC_UTILS_PY3)_SRC_PATH = $(SRC_PATH)/sonic-utilities
-$(SONIC_UTILS_PY3)_PYTHON_VERSION = 3
-$(SONIC_UTILS_PY3)_TEST = n
-SONIC_PYTHON_WHEELS += $(SONIC_UTILS_PY3)
diff --git a/slave.mk b/slave.mk
index 425ba4c41d8..34a892b7328 100644
--- a/slave.mk
+++ b/slave.mk
@@ -416,7 +416,8 @@ $(addprefix $(TARGET_PATH)/, $(SONIC_INSTALLERS)) : $(TARGET_PATH)/% : \
                 $(LIBPAM_TACPLUS) \
                 $(LIBNSS_TACPLUS)) \
         $$(addprefix $(TARGET_PATH)/,$$($$*_DOCKERS)) \
-        $$(addprefix $(PYTHON_WHEELS_PATH)/,$(SONIC_CONFIG_ENGINE))
+        $$(addprefix $(PYTHON_WHEELS_PATH)/,$(SONIC_CONFIG_ENGINE)) \
+        $$(addprefix $(PYTHON_WHEELS_PATH)/,$(SONIC_PLATFORM_COMMON_PY2))
 	$(HEADER)
 	# Pass initramfs and linux kernel explicitly. They are used for all platforms
 	export initramfs_tools="$(DEBS_PATH)/$(INITRAMFS_TOOLS)"
@@ -433,6 +434,7 @@ $(addprefix $(TARGET_PATH)/, $(SONIC_INSTALLERS)) : $(TARGET_PATH)/% : \
 	export installer_images="$(addprefix $(TARGET_PATH)/,$($*_DOCKERS))"
 	export config_engine_wheel_path="$(addprefix $(PYTHON_WHEELS_PATH)/,$(SONIC_CONFIG_ENGINE))"
 	export swsssdk_py2_wheel_path="$(addprefix $(PYTHON_WHEELS_PATH)/,$(SWSSSDK_PY2))"
+	export platform_common_py2_wheel_path="$(addprefix $(PYTHON_WHEELS_PATH)/,$(SONIC_PLATFORM_COMMON_PY2))"
 	
 	$(foreach docker, $($*_DOCKERS),\
 		export docker_image="$(docker)"
diff --git a/src/sonic-platform-common b/src/sonic-platform-common
new file mode 160000
index 00000000000..0581611b7be
--- /dev/null
+++ b/src/sonic-platform-common
@@ -0,0 +1 @@
+Subproject commit 0581611b7be5cc52aea2877199785fe72f759a58
diff --git a/src/sonic-platform-daemons b/src/sonic-platform-daemons
index d1df4717627..920f29b3918 160000
--- a/src/sonic-platform-daemons
+++ b/src/sonic-platform-daemons
@@ -1 +1 @@
-Subproject commit d1df4717627acf9421861545b71e411acf3c5f32
+Subproject commit 920f29b3918635cce14a1e03749ffb1e76bf9abd
diff --git a/src/sonic-utilities b/src/sonic-utilities
index 6823ce2f3e4..495584bd2f2 160000
--- a/src/sonic-utilities
+++ b/src/sonic-utilities
@@ -1 +1 @@
-Subproject commit 6823ce2f3e46d9bbf5fcfa6b371705a7368929cb
+Subproject commit 495584bd2f228af81934b23e4cf19648ab387fab