ISLAMABAD: The National Assembly’s Standing Committee on Commerce has urged state-owned insurance companies to implement enhanced reforms to expand their coverage to underserved areas.

The committee meeting was chaired by MNA Jawed Hanif Khan at the Parliament House, and the agenda focused on assessing the performance and operational scope of insurance companies operating under the Ministry of Commerce.

The meeting aimed to review the contributions of these entities towards national welfare, explore potential improvements and assess their alignment with social welfare objectives.

The representative of State Life Insurance Corp­oration (SLIC), a key public sector insurance provider, presented a detailed overview of its current operations, financial health and growth plans.

SLIC highlighted that it remained profitable, with assets under management exceeding Rs2 trillion, and a remarkable profit distribution structure that directs 97.5pc of gains back to policyholders.

The committee members acknowledged SLIC’s financial contributions to the government but stressed the importance of expanding its offerings, particularly in crop and livestock insurance — a pressing need for rural populations.

Published in Dawn, November 14th, 2024

Follow Dawn Business on Twitter, LinkedIn, Instagram and Facebook for insights on business, finance and tech from Pakistan and across the world.

Opinion

Editorial

Risky slope
Updated 17 Dec, 2024

Risky slope

Inflation likely to see an upward trajectory once high base effect tapers off.
Digital ID bill
Updated 17 Dec, 2024

Digital ID bill

Without privacy safeguards, a centralised digital ID system could be misused for surveillance.
Dangerous revisionism
Updated 17 Dec, 2024

Dangerous revisionism

When hatemongers call for digging up every mosque to see what lies beneath, there is a darker agenda driving matters.
Remembering APS
Updated 16 Dec, 2024

Remembering APS

Ten years later, the state must fully commit itself to implementing NAP if Pakistan is to be rid of terrorism and fanaticism.
Cricket momentum
16 Dec, 2024

Cricket momentum

A WASHOUT at The Wanderers saw Pakistan avoid a series whitewash but they will go into the One-day International...
Grievous trade
16 Dec, 2024

Grievous trade

THE UN’s Global Report on Trafficking in Persons 2024 is a sobering account of how the commodification of humans...