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Punjab govt to establish insurance company

Punjab govt to establish insurance company
National
February 4, 2021
LAHORE: The Punjab government has been working for establishing an insurance company of the province following the good performance of the insurance sector of the country.
In this regard, a couple of meetings have been held for deliberations. Punjab Finance Minister Hashim Jawan Bakht has assigned the task to Bank of Punjab (BoP) President Zafar Masud to provide required assistance to the government of Punjab.
According to official documents available with The News, the BoP president on the instructions of the minister hired the consultancy services of a famous charted accountant firm. The document stated: “The Bank of Punjab has hired consultancy services of M/s KPMG Taseer Hadi for conducting a feasibility study to establish the insurance company.” The document stated that after analyzing the performance of the insurance sector in Pakistan and assessing the feasibility for establishing a new public sector insurance company, the consultants are now in a position to give a productive briefing to the government of Punjab.

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