Punjab to form life insurance co for govt employees: PA told

LAHORE: The Punjab Assembly on Tuesday approved a resolution condemning Indian occupation of Kashmir and was informed that the provincial government plans to establish a life insurance company for government employees, while the treasury benches failed to maintain quorum for the second consecutive day.

During the question hour, Finance Minister Mujtaba Shuja-ur-Rehman informed the House, in response to questions by treasury member Amjad Ali Javed, that the provincial cabinet had approved the establishment of the Punjab Life Insurance Company in 2024. He said preparations for the documents required for its registration would now be initiated.

The proposed company is expected to initially secure around one million clients from government institutions, offering employees lower premiums compared with other insurance companies, he added.

The finance minister also informed the House that the Punjab Revenue Authority recorded a 38 percent increase in tax collections during fiscal year 2025-26. The provincial government aims to collect more than Rs1 trillion in taxes and spend the revenue on public welfare and development projects, he said.

The House unanimously passed a resolution moved by the finance minister in connection with Kashmir Black Day, observed on October 27, condemning India’s occupation of Kashmir.

Meanwhile, Sardar Ramesh Singh Arora urged the reopening of the Kartarpur Corridor for Sikh pilgrims. He also invited Indian Chief Minister Bhagwant Mann and the Indian Assembly Speaker to visit Pakistan, saying they would be warmly welcomed.

The session, which began two hours and four minutes behind schedule, was chaired by Panel of Chairpersons member Samiullah Khan.

The proceedings were eventually adjourned until 11:30 am on Wednesday after the House failed to meet the required quorum. Opposition member Hassan Malik pointed out the lack of quorum, leading to the adjournment.

Copyright Business Recorder, 2026