ISLAMABAD: The federal government is likely to appoint Dr Faiz Illahi Memon as Executive Director State Life Insurance Corporation of Pakistan (SLIC), official sources told Business Recorder. SLIC is a public sector insurance organisation, working under the administrative control of the Ministry of Commerce.

In terms of Establishment Division's Office Memorandum (OM) of January 24, 1996, the post of Executive Director, SLIC is equivalent to BS-21 being grade M-II post. According to provisions contained in SLIC (General) Regulations, 1972, it is prescribed that "Executive Director" means a Director of the Corporation appointed by the Chairman, with the previous approval of the federal government as an Executive Director to work as a whole time officer.

A summary was moved through Establishment Division for approval of Prime Minister, being Minister-in-charge, for posting of Dr Faiz Illahi Memon (IRS/BS-21) as Executive Director in SLIC on deputation basis. The Establishment Division, after adding the following panel of officers submitted the summary for orders of Prime Minister, which has been approved by the PM for placing before the Federal Cabinet; (i) Dr Faiz Illahi Memon; (ii) Usman Chachar, PAS BS-21 and; (iii) Ilyas Khan, SG BS-21.

Prime Minister, as Minister-in-Charge Commerce Division, has allowed submission of the summary to the Cabinet.

Copyright Business Recorder, 2020