The government has approved the appointment of Dr Muhammad Sohail Rajput as Chairman Board of Directors at State Life Insurance Corporation of Pakistan (SLIC). Mr. Rajput currently works as Special Secretary Ministry of Commerce.
SLIC has been established by the government under the Life Insurance (Nationalization) Order,(LINO)1972, while the Federal Government has 100% equity in the Corporation.
Previously, the Ministry of Commerce was responsible for the administrative oversight of the corporation, but the Chairman and Board of Directors head the management now.
The Director’s position on the SLIC Board of Directors (BoD) representing Ministry of Commerce had been vacant and as per Section 12 of the Life Insurance Nationalization Ordinance, 1972, the appointment as Director is a mandatory requirement for becoming Chairman.
As a result, the Commerce Division sought the approval of Cabinet to appoint Dr. Muhammad Sohail Rajput (PAS/BS-22), presently posted as Special Secretary Ministry of Commerce, as Member of Board of Directors of State Life Insurance Corporation of Pakistan (SLIC). The Cabinet has approved the appointment.
