Punjab Life Insurance Company To Serve As Pro-people Institution: Minister Mujtaba

The Government of Punjab has taken a groundbreaking step in the realm of social protection with the establishment of Punjab Life Insurance Company - the first public sector initiative of its kind at the provincial level. Launched under the administrative control of the Finance Department, this company is envisioned to serve as a powerful tool for evidence-based policy-making, sound financial planning, and effective risk management

LAHORE, (UrduPoint / Pakistan Point News - 7th Aug, 2025) The Government of Punjab has taken a groundbreaking step in the realm of social protection with the establishment of Punjab Life Insurance Company - the first public sector initiative of its kind at the provincial level. Launched under the administrative control of the Finance Department, this company is envisioned to serve as a powerful tool for evidence-based policy-making, sound financial planning, and effective risk management.

By institutionalizing life insurance at the government level, Punjab will not only offer financial security to its citizens in times of illness, death, or unforeseen circumstances, but will also gain structured access to socio-economic data. This data will enable the government to design more targeted, inclusive, and need-based welfare programmes, ensuring that public resources are used efficiently and transparently.

Punjab Finance Minister Mian Mujtaba Shuja-ur-Rehman gave these remarks during the interview session of shortlisted candidates for the position of Chief Executive Officer (CEO) of Punjab Life Insurance Company held here at the Finance Department on Thursday.

The Minister further stated that the selection of the CEO is being carried out in a strictly merit-based and transparent manner, with clear consideration of educational background, relevant field experience, and technical expertise. “We are committed to appointing a capable and visionary professional who can lead the company on modern lines and expand life insurance coverage in the province,” he vowed.

He also directed the Finance Department to submit the summary of shortlisted candidates to the Chief Minister for final approval, to ensure the timely appointment of effective leadership.