ISLAMABAD, Jan 25 (APP):Caretaker Minister for Commerce, Industry, Investment and Interior Dr Gohar Ejaz on Thursday said that Pakistan’s public-sector insurance companies are engine of economic growth.
He expressed these views in a meeting chaired by Caretaker Finance Minister Dr. Shamshad Akhtar.
During the meeting, discussion was made on reforms in the insurance industry, a news release said issued here. He said that State Life Insurance Company, National Insurance Company and Pakistan Reinsurance Company have managed around Rs. 2 trillion of funds. These companies have established themselves as pillars of financial stability and innovation, he said.
These are the best state-owned enterprises in Pakistan, he said. Over the years, he said that the companies have consistently demonstrated their ability to navigate economic cycles, maintain financial stability, and adapt to evolving market conditions. He added that these companies were at the forefront of expanding insurance coverage to underserved segments of the population, particularly in rural areas. He further stated that the companies have played a pivotal role in supporting Pakistan’s economic growth by providing risk mitigation solutions to businesses and infrastructure projects.
Dr Gohar Ejaz said: “These companies have outperformed their counterparts in the private sector and their performance is a benchmark for others.” The meeting was also attended by the Minister for Information Technology and Telecom, Deputy Chairman Planning Commission and Secretary SIFC, Secretary Commerce, Chairman Federal Board of Revenue (FBR), Special Secretary Commerce, Chairman Security Exchange Commission of Pakistan (SECP), Chief Executive Officers of the three public sector companies.
