Staff Report
ISLAMABAD: Pakistan Economy Watch (PEW) on Wednesday supported the smart lockdown policy of the government saying that allowing certain industries to operate will help the common man. The move will kick start the stalled economic activity, provide jobs to millions, and generate revenue, said Chairman Brig. (retd) Muhammad Aslam Khan. Talking to noted chartered accountant Tariq Hussain and other experts, he said that importance of the insurance sector cannot be undermined under any circumstances. He said that the sectors that have been allowed to operate include chemical plants, e-commerce exports, software development, papers and packaging, cement and fertilizer plants, mine and minerals, agriculture machinery, and glass manufacturing etc will need mandatory insurance cover which is not possible due to closure.
Importers, exporters, manufacturers, transporters and others will find it difficult to operate without the insurance cover, therefore, this important sector should also be allowed to operate, he demanded. He said that the federal government has left the decision of reopening of some sectors to the provinces which is an encouraging move.
He further said that closure of the insurance sector is creating problems for many policyholders as different claims need to be tackled as soon as possible to provide the needed relief. Muhammad Aslam Khan said that the insurance sector is providing security to lives, businesses and assets of millions of people and many among them need timely help but their claims cannot be processed due to closure.
At the occasion, Tariq Hussain said that insurance is mandatory for imports, exports and movement of raw material, semi-finished and finished goods which should be allowed to operate otherwise it may hit the confidence of the business community.
He said that the insurance companies, insurance brokers, surveyors, and trackers are linked to each other therefore they should be allowed to work. Tariq Hussain said that the government should not shoulder the whole burden and take help of the insurance sector to mitigate losses of the business community.
