Foreign office needs to be taken on board for promotion of trade: Senate

March 29, 2019 (MLN): The Senate Standing Committee conducted a meeting on Commerce and Textile Industry, chaired by Senator Mirza Muhammad Afridi. 

The agendas taken up by the Committee pertained to briefings by the State Life Insurance Company (SLIC) on unclaimed policies, and the Trade Development Authority (TDAP) regarding on promotion of exports of Pakistan.

Deliberating over the measures taken by TDAP to promote business abroad, the Committee was informed that Pakistani exporters are meeting with the chambers, trade associations and potential buyers in visiting countries.

Outcome of the trade delegation depends on product acceptability, pricing and compliance.  It asserted that to explore new markets the foreign office would need to be taken on board. 

While discussing unclaimed insurance benefits the Committee was informed that one major impediment faced by the organization is lack of a centralized database of deaths. 

NADRA has created software that is being used by respective Union Councils for issuance of death certificates; however, the same is not linked with NADRA. This has limited regulatory compliance.

It was revealed that NADRA has refused to conduct bulk verifications which is a major impediment in paying off claims.  The Committee directed that the concerned Ministry and NADRA facilitate SLIC to support their work. A letter will be written to NADRA in this regard at the earliest and it will be summoned in the next meeting. 

While being briefed about the steps taken by SLIC to reduce business procurement costs, and resolve the issue of dummy agents, the Chairman and members of the Committee appreciated Chairman SLIC, Mr. Mohammad Younus Dagha for his efforts in making SLIC a more efficient organization.

Posted on: 2019-03-29T12:21:00+05:00