Federal Minister for Finance Muhammad Aurangzeb on Monday reaffirmed the government's commitment to supporting the insurance sector as he recognised its potential for stimulating significant private sector investment.
During a meeting with a delegation of chief executive officers of Pakistan's leading insurance companies, the minister said that the government wanted to diversify lending beyond the banking sector and urged the insurance industry to step up their activities and meet the growing demand from customers.
"This includes expanding the sector by focusing on innovation, enhancing productivity and driving further growth," he added.
The discussion focused on the growth of the insurance sector and its contribution to the national economy, with a particular emphasis on its impact on the healthcare system, investment in Pakistan Investment Bonds (PIBs), capital markets and long-term investment opportunities.
Aurangzeb assured the delegation that the government would continue to work closely with industry leaders and stakeholders to ensure long-term prosperity of the insurance sector, which was a vital component of Pakistan's economic landscape.
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