K-P announces life insurance scheme for citizens

Compensation of Rs1m for those under 60, Rs500,000 for those over 60, with Rs4.5b annual cost borne by provincial govt

The Khyber-Pakhtunkhwa (K-P) government has announced a series of major initiatives, including the launch of a life insurance scheme from January 1, 2025, the solarisation of government buildings, and the establishment of a provincial Islamic Takafal insurance company within the next three months.

The decisions were made during a key meeting chaired by K-P Chief Minister Ali Amin Khan Gandapur, who reviewed the progress of the provincial government's eight flagship projects.

_{The CM revealed that the provincial government will introduce a life insurance scheme, aimed at providing financial support to the families of deceased individuals. Under the scheme, the government will pay compensation in case of death at any government hospital or one that is part of the health card network.}

_{The compensation amount will be Rs1 million for individuals under 60 years of age and Rs500,000 for those over 60. The total cost of the life insurance scheme will be Rs4.5 billion annually, which will be borne by the provincial government.}

_{In addition to the life insurance scheme, Gandapur also set a three-month deadline for establishing the provincial Islamic Takafal Insurance Company. The new entity will be responsible for managing insurance coverage under Islamic principles and offering a range of products to the public.}

_{The CM directed that the provincial government’s own transmission line project (Lot-1) should be completed on time. Lot-1 includes a 40-kilometre, 220 KV transmission line that will run from the Muttalitan area in Swat to Bahrain.}

_{The project, costing Rs8 billion, is expected to be completed within 18 months. The transmission line will also facilitate the evacuation of power generated by the 84-megawatt Muttalitan Hydropower Project. Meanwhile, Lot-2 will see a 120-kilometre line constructed from Bahrain to Chakdara Grid Station.}

_{In addition to energy infrastructure, Gandapur discussed the purchase of land for the Peshawar-Dera Ismail Khan motorway, directing the finance department to release Rs2 billion for this purpose. The purchase of land will begin simultaneously in both Peshawar and Dera Ismail Khan.}

Another major project discussed was the establishment of a Debt Management Fund, which is expected to generate Rs400 million to Rs500 million monthly revenue for the provincial government. Gandapur instructed that funds be transferred to the Debt Management Fund in the coming days.

_{Further discussions touched on the promotion of tourism in the province, with the government deciding to launch a Home Stay Tourism scheme by January 1, 2025. He also instructed authorities to expedite the solarisation of government buildings, following the collection of relevant data.}

Additionally, the Trade Corridor Hub project was brought up, with the provincial government planning to raise the matter with the federal government for further action.