HomeDomesticPM Advisor on Commerce launches SLI digital portal, mobile App

PM Advisor on Commerce launches SLI digital portal, mobile App

KARACHI, Feb 11 (APP): Advisor to the Prime Minister on Commerce and Investment, Abdul Razzak Dawood on Friday launched State Life Insurance Corporation of Pakistan’s digital portal and mobile App on the eve of its golden jubilee.

These new facilities will help provide better insurance services to Pakistanis within and outside the country.

Addressing the golden jubilee ceremony here, PM’s Advisor appreciated SLI growth on policy and profit sides despite COVID-19 shocks, and hoped the state-owned insurance company would pursue futuristic policy and would focus more on innovations to become leader in the services sector, which was fast growing in the world.

He, however, emphasized that SLI with other two state-run insurance companies – National Insurance Corporation Limited and Pakistan Insurance Corporation Limited – should ensure a competitive atmosphere for further growth of this sector.

He recalled that insurance sector of the country had experienced ups and downs. During Musharraf era when he was holding the same portfolio as the Commerce Minister the insurance sector was not in good condition. Three years back, it experienced almost the same environment.
He assured all possible support to SLI for its further growth.

As a country, he said, in the past due attention and support was not given to exports especially of services. But now, with better policies of the government, the services sector exports had significantly increased; information technology sector had big stake in services exports with 50% growth.

For this financial year, the target for IT exports had been set at 3.7 billion dollars and for non IT services including insurance, shipping line and consultancy the target was $ 7.5 billion. During last fiscal year, the textile exports went up to dollars 21 billion against $ 15 billion of the previous year.

He mentioned that besides going for value-addition and innovatives in textile sector, the country needed to develop non-traditional export sectors including services sector for sustained growth in the exports.
“ We are depending more on textiles. We should be forward looking and focus on services sector and other non-traditional sector,” he asserted adding that it was encouraging, the textile exports had significantly grown during last couple of years, but textile did bring only foreign exchange whereas IT exports earned respect for the country along with money.

The Advisor said the country was faced with challenges on economic front, however with patience, determination and optimism the nation could manage the situation.

He expressed his satisfaction that the country’s economy was moving in right direction and the macro-economic indicators were very positive.

Federal Secretary of Commerce Muhammad Sualeh Ahmed Farooqui, while appreciating the performance of SLI at the completion of its 50 years of service, said it was the right time to lay foundation for next fifty years.

He acknowledged that SLI had adopted digitalization and was expanding the customers base.

SLI Chairman, Shoaib Javed Hassan spoke of the company’s performance and future plans which included health insurance.
Earlier, a documentary on SLI was played.

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