ISLAMABAD: The delay in completion of State Life Tower has cost Rs823.5 million to the exchequer, the audit report revealed.
According to the audit report for the last fiscal year of the State Life Insurance Corporation of Pakistan (SLICP), if the tower completed in time the amount could have been earned as rental income.
The State Life Tower was supposed to be completed in 2013.
The audit report pointed out that General Financial Rules (GFR) states that every government officer should realise fully that he would be held responsible for any loss sustained by the government through fraud or negligence on his part.
Shoaib Hussain appointed chairman of SLIC
Karachi
April 6, 2021
Karachi: State Life Insurance Corporation of Pakistan, the country’s largest life insurance company, has announced the appointment of Shoaib Javed Hussain as its Chairman, effective 17th March 2021.
Mr. Hussain has 20 years of management experience at leading Global Insurance Groups & Consultancies in the United Kingdom and in Asia.
Mr. Hussain brings with him his deep understanding of the insurance industry, wide knowledge of strategic executive perspective and technical acumen that he has gained through global engagements across Europe, North America & Asia. Before joining State Life, Mr. Hussain held senior leadership positions with AIA Insurance Group, Milliman, and Prudential plc of the United Kingdom.
Sindh cabinet decides to engage private hospitals, labs for COVID-19 Mass Vaccination
Karachi, March 16, 2021 (PPI-OT): The provincial cabinet has passed a resolution reposing confidence and trust in Election Commission of Pakistan, its chairman and members and has called upon the federal government not to intervene in discharge of the constitutional obligations of the ECP. The meeting was held under the chairmanship of Sindh Chief Minister Syed Murad Ali Shah here at CM House on Tuesday. The meeting was attended by provincial ministers, advisor law, chief secretary and concerned secretaries.
COVID Mass Vaccination: The Sindh Cabinet has decided to engage private hospitals and laboratories in COVID-19 Mass Vaccination programme and encourage the private health sector to import COIVID-19 vaccine, allocate human resources and establish vaccination centers, especially in Karachi.
Bank Alfalah, SLIC sign agreement
Business
March 16, 2021
KARACHI: Bank Alfalah and the State Life Insurance Corporation (SLIC) of Pakistan have recently signed an agreement to maximise customers’ facilitation and extend Bank Alfalah’s portfolio of services, a statement said on Monday.
Under the agreement, Bank Alfalah is opening its banking network of over 700 branches across Pakistan for cash management of premium and loan installments on behalf of State Life Insurance Corporation, it added.
SLIC is among Pakistan’s largest insurance policy providers, and this facilitation will go a long way in supporting its customers in making easy and smooth payments. Bank Alfalah President and CEO Atif Bajwa said, “This agreement enables corporations like State Life to benefit from value-added products and gain efficiencies in cash management. We expect that this will create better returns for SLIC, as well as allow better service to its end customers.”
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