Finance Minister Muhammad Aurangzeb has reaffirmed government’s commitment to supporting the insurance sector, recognizing its potential for significant private sector investment.

He expressed these views during a meeting with a delegation of chief executive officers from Pakistan's leading insurance companies in Islamabad today.

The Minister further noted that the government seeks to diversify beyond the banking sector for lending purposes, urging the insurance industry to step up and meet the growing demand. This includes expanding the sector by focusing on innovation, enhancing productivity, and driving further growth.

The discussion focused on the growth of the insurance sector and its contributions to the national economy, with a particular emphasis on its impact on the health system, investments in Pakistan Investment Bonds, capital markets, and long-term investment opportunities.

The Minister assured the delegation that the government would continue to work closely with industry leaders and stakeholders to ensure the long-term prosperity of the insurance sector, which is a vital component of Pakistan’s economic landscape.

The delegation presented key proposals and suggestions aimed at boosting the growth and productivity of the insurance sector.

Muhammad Aurangzeb that the government would carefully consider their proposals, particularly regarding taxation and policy measures necessary for the future growth of the industry.

He said that a team of experts at the Federal Board of Revenue is diligently reviewing each proposal submitted by different sectors, ensuring that the impact on the economy and revenue is thoroughly evaluated.

This process aims to develop realistic and actionable policy interventions that will foster the growth of the industry and critical sectors of the economy.