State Life earns profit of Rs154b

SLIC chairman briefs NA committee on reforms made in the organisation

KARACHI: The State Life Insurance Corporation (SLIC) has earned a profit of Rs154 billion during 2016-17 and distributed over Rs38 billion among its policy holders, said SLIC Chairman Naveed Kamran Baloch.

Briefing the chairman and members of the National Assembly Standing Committee on Commerce, he said, “SLIC has paid more than Rs2 billion in income taxes to the federal government.”

Enumerating their achievements, the chairman said that SLIC has made a substantial increase in investment income, introduced structural reforms in human resources, made a commendable increase in premium and introduced enterprise resource procedure (ERP) in three zones of the country.

Talking about the reforms introduced, Baloch said that the latest IT-based accounting system has been initiated, apart from revamping service delivery in policy holder services.

“These are some of the important measure we have taken to make the entire system transparent, responsive to policy holders and make the organisation profitable.”

The chairman presented a detailed account of the performance, working and future planning of State Life. The committee greatly appreciated the briefing.

Published in The Express Tribune, August 26^th, 2017.

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