CPEC has started benefitting the insurance industry: PEW
ISLAMABAD: The Pakistan Economy Watch (PEW) on Sunday said that CPEC is infusing new life in all the sectors of the insurance industry of the country.
This sector should be prepared to face challenges and opportunities resulting from one of the biggest developmental projects the world has ever seen, it said.
CPEC is to contribute to the unprecedented growth of the insurance industry as it is generating a lot of business activities, said Dr. Murtaza Mughal, President PEW.
The insurance industry needs to invest more in up gradation, human resource development, innovation and improved teamwork to properly benefit from the fruits of CPEC, he added.
Dr. Murtaza Mughal said that the insurance sector needs to introduce new products and further improve its working to match global standards otherwise local insurance industry will be ignored by multinationals.
He also stressed the need to create awareness among masses and the business community regarding the benefits of insurance to strengthen the economy.
He noted that CPEC would write a new chapter in the accounts of history by connecting different regions of the world while Pakistan enjoys a prominent position in this unprecedented project.
Benefitting from CPEC not only require competent and hardworking force to discharge responsibilities originating from this miracle but the insurance sector should also brace for the change, he demanded. The government should also play its role in the promotion of insurance and general business atmosphere which could cater to the need of the countrymen and help compete with the other nations.
In the backdrop of the current situation, the insurance industry had assumed significant proportions and it must be able to solve the complex matters which will help its expansion.