ISLAMABAD, Dec 04 (APP): Federal Minister for Privatisation Abdul Aleem Khan Thursday acknowledged significant delays in the settlement of Postal Life Insurance Company Limited (PLICL) claims and assured the Upper House that the issue would be taken up at the highest level to ensure timely payments to policyholders.
During the question hour, the minister responded to concerns raised by Senators Shahadat Awan, Dinesh Kumar and Waqar Mehdi regarding outstanding payments and administrative lapses in PLICL. He said the senators’ observations were “absolutely correct,” adding that the delay in disbursement of policyholders’ funds reflected “government negligence.”
The minister informed the House that repeated communications had been sent to the Finance Division urging the release of funds required to clear pending claims. He emphasized that these funds were not government assets but “the amanat (trust money) of the people,” and therefore should not have remained with the Finance Division.
Aleem Khan acknowledged that a total of 33,830 policyholders across Pakistan have pending claims amounting to Rs 8,165 million.
He explained that when PLICL was shifted from Pakistan Post’s P O & D wing in April 2021, the Finance Division had issued a promissory note of Rs 48 billion to facilitate the transfer of liabilities. “Since then, we have had to repeatedly request funds each year,” he told the Senate. “If six billion rupees are needed annually for payments, but only two or three billion are released, then delays become inevitable.”
The minister clarified that PLICL, established in March 2020 under the Companies Act, had not reinsured any of its policies; instead, the Government of Pakistan held all associated liabilities. He said the inadequate release of funds must be corrected immediately.
Aleem Khan assured lawmakers that he would personally take up the matter with the Finance Minister, adding: “We will make sure all pending claims for the current fiscal year are cleared, and future claims are paid on time.”
He also promised to share the regional breakup of claims with the Senate and reiterated: “This is the right of policyholders, and we will ensure they receive their payments without further delay.” /APP-rzr-szm