KARACHI: A meeting of the Standing \Committee on Commerce held today at 11:00 AM in the Conference Room, State Life Building No.9, 3rd Floor, Dr. Ziauddin Ahmed Road, Karachi under the Chairmanship of Mr. Siraj Muhammad Khan, MNA to discuss the Yearly Performance Review of the State Life Insurance Corporation of Pakistan (SLIC), National Insurance Company Limited (NICL) and Pakistan Reinsurance Company Limited (PRCL).
The Chairperson-SLIC apprised the Committee over the Yearly Performance review of the State Life Insurance Corporation of Pakistan. The SLIC works with the mission to remain the leading insurer in the country by extending the benefits of life insurance to all sections of society, about 58% life insurance is conducted by SLIC. The operational territories of SLIC are widening upto Saudi Arabia, Kuwait and UAE.
SLIC is operating with five Regions in the country with 1016 Area Managers as its regular employees. The Committee recommended that SLIC may develop some operational innovations to compete the international market and the Parliamentarians may be engaged in Group Insurance.
Moreover, ZTBL may be approached for insurance of its loanees of ZTBL. The Committee showed its displeasure over the delay in the construction of SLIC building in Blue Area, Islamabad and directed that the report may be submitted to the Committee.
The Committee shown its concern over the properties lying with NICL with an idol situation and strongly recommended that the arrangements should be made to rent out its valuable properties situated in Pakistan and Dubai.
The Committee was also informed that no recoveries have been received yet in respect of NICL scandal in 2010. The Committee also directed that PRCL should initiate close collaboration regarding its joint venture with ECO countries to get the international exposure.
The meeting was attended by Mr. Muhammad Pervaiz Malik, Mian Muhammad Rasheed, Ms Tahira Aurangzeb, Makhdoom Syed Ali Hassan Gillani, Dr. Mahreen Razaque Bhutto, Mr. Nazir Ahmed Bughio, Ms Mussarat Ahmed Zeb and Mr. Sanjay Perwani, MNAs, bedside senior officers from Ministry of Commerce, Chairperson-SLIC, NICL and PRCL also. DNA