It is indeed a proud moment for me to announce launching of innovative insurance products in the field of Crop Insurance, Micro Insurance and Political Risk/ Terrorism Insurance.
These wonderful aids will on the one hand mitigate economic distress of poor communities in rural areas and protect the economic gains of farmers and on the other hand it will enhance confidence level of foreign investors as a protection against all risk for business travellers in Pakistan is provided by NICL.
The message of appreciation received from the President of Pakistan, General Pervez Musharaf on this occasion is great source of encouragement for all of us in NICL. I am grateful to the Prime Minister of Pakistan Mr. Shaukat Aziz and Federal Commerce Minister, Mr. Humayun Akhtar Khan for a very useful guidance and support provided to us which has gone a long way in our success in being able to offer these innovative insurance products. I am thankful to them for the confidence and trust reposed by them for developing these insurance products.
I have to acknowledge a very useful co-operation provided to us by institutions such as MINFAL, Met Department, Bureau of Statistics, Provincial Governments, National Bank of Pakistan and others in respect of collection and analysis of the relevant data required for development of the insurance products.
Last but not the least I appreciate the hard work by way of a rigorous and intelligent effort put in by the team of professionals of NICL over the last many months.
It is this concerted and dedicated effort of this team of NICL, which has brought in to my hands a package of commercially viable insurance products as per policy and guidance given to them. It would be recognised as a laudable contribution towards growth and development of the most important sectors of our economy where insurance had no penetration so far.
I have no hesitation in expressing my confidence that NICL will continue to play the role of the lead national insurer in an ever-changing economic environment.