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Fake Insurance Agents Recruitment in SLI Revealed in PAC meeting

ISLAMABAD: It has revealed in Public Accounts Committee (PAC) meeting that fake insurance agents recruited in State Life Insurance.

The PAC meeting was held in the chair of Shahbaz Sharif in which NAB officials briefed the meeting about corruption in the Benazir Income Support Program (BISP).

The NAB official informed Shahbaz that on his (Shahbaz) interference they found record regarding the BISP.

The officials also informed that investigation into irregularities in the BISP will be completed soon then it will be sent to administration board to file a reference.

Audit officials briefed the meeting that state life insurance invested 17 per cent Rs 100.3 million in Thatha cement instead of legal investment of 5 per cent. To this, secretary trade informed that realizing the mistake Rs 100.3 million worth share of the Thata cement shares were later on time sold on the price of Rs 200.6 million.

The secretary trade Younis Dhaga informed the PAC that privatization of State life, National Insurance and Reinsurance companies have been delayed adding that export will be increased up to 25 billion dollars while trade deficit will see a decrease of four to five billion rupees.

Chairman Committee Shahbaz Sharif has directed all ministries and divisions to hold departmental accounts committee meetings regularly.