Meeting of Senate Standing Committee on Privatization held

Staff Reporter

A Meeting of the Senate Standing Committee on Privatization was held under the Chairmanship of Senator Shamim Afridi here at the Parliament House on Friday.

The Committee expressed deep sorrow and grief over the sad demise of Syed Ali Gilani and offered fateha for elevation of ranks for the departed soul Reconsideration of the Bill Titled “the Privatization Commission (Amendment) Bill, 2021” moved by the Minister for Privatization in the Senate sitting held on 23rd June 2021 was deferred.

Detailed briefing by the State Life Insurance, re-garding its Privatization Process, over-staffing and other issues were considered.

The Chairman State life Insurance apprised the committee that the Life Insurance Business in Paki-stan was nationalized in 1972.

The Chairman (SLI) highlighted that the 97.5 % surplus utilization of the LINO is allocated for poli-cyholders and 2.5 % is allocated for Federal Gov-ernment and provides an undertaking by the Central Government with regards to Policyholders.

While briefing the committee on the Structural overview of the State Life Insurance Cooperation the Chairman SLI informed the committee that there are 7 Re-gional offices, 33 Zone offices, 166 sector offices and 1, 242 area offices.

It was also informed that the life, group and health business lines, have 2, 352 officers, 2, 284 staff 1, 243 area managers and 134, 205 field forces.

employees, retired officers and officers re-inducted on extension should be removed. This will reduce the financial burden of the organization.

The Chairman SLI informed that there are approxi-mately 10-20 employees on extension; however he was not sure on the definite number and said that he will provide it in the next meeting.

Anwar-ul-Haq Kakar raised the question of salary or Staple for the Field Staff which he termed as the “driving force of the organization”.

“It is unfortunate to know that the key workers contribut-ing to the salaries of the departments are given no earnings at all”, Senator Anwar-ul-Haq Kakar ob-served, “it is a corporal biased and an extremely screwed approach” he added.

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