Pakistan today, is on the path of prosperity and development as a result of the government's prudent fiscal management and innovative & consistent economic policies.
Launching of new products by the first public sector general insurance company, the National Insurance Company Limited is in line with the government's continue efforts to help and support business to perform to its potential in a geographical environment. I congratulate NICL for this bold and timely initiative. The three areas that these new insurance products cover will fill the current gap in risk coverage. NICL has come forward in a benefiting way, to satisfy a pressing need in these sectors.
NICL's initiative to provide terrorism cover to travellers visiting Pakistan and to firms operating in Pakistan on viable terms, would contribute positively in boosting confidence of foreign investors in our economy.
Similarly, NICL has placed Pakistan on the world map in the field of crop and micro insurance. In the past, insurance protection of poor communities particularly in the agro-based rural areas of our country has not been extensively catered to. NICL has launched these three products in line with international trends of trade and commerce, on economically viable terms and without looking to government for subsidies.
It has been this government's objective to provide a conducive environment to our business, agricultural community and foreign investors in order to make them partners in Pakistan's economic development. Our financial and structural reforms have enhanced the role of agriculture and private sector entrepreneurship and restored the confidence of both domestic and international investors to take advantage of the opportunities being offered.
1 congratulate NICL and its team of professionals for leading the way in this endeavour of important public interest. This effort on their part deserves our sincere and highest appreciation.
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