SECP calls for health insurance reforms

August 6, 2025 (MLN): The Securities and Exchange Commission of Pakistan (SECP) has emphasized the need for reforms in health insurance to address structural inefficiencies and expand access.

Despite constitutional and international commitments to health as a fundamental right, Pakistan has faced high out of pocket health expenditures 47% according to the WHO Global Health Expenditure Database.

This puts it well above regional peers like Sri Lanka, Malaysia, and Indonesia.

The report, titled Healthcare Ecosystem in Pakistan points to this financial burden as a key barrier to equitable healthcare access.

As part of its five-year plan “Journey to an Insured Pakistan,” the SECP has identified core challenges impeding the growth of health insurance, including limited product innovation, poor pricing mechanisms, and inadequate oversight.

It further recommended a reform strategy built around inclusivity, better regulation, and a shift towards value-based care.

SECP Chairperson Akif Saeed called for systemic integration between public and private healthcare sectors, particularly in combining primary healthcare with universal health coverage.

The importance of a coordinated, national-level approach involving all stakeholders to ensure long-term, sustainable reforms was emphasized by Commissioner Insurance Mujtaba A. Lodhi.

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