By Commerce Reporter
LAHORE: The Lahore Chamber of Commerce & Industry (LCCI) has welcomed and strongly appreciated the Government of Punjab’s landmark decision to establish the Punjab General Insurance Company under the leadership of Chief Minister Maryam Nawaz Sharif. The initiative is being regarded as a significant milestone in strengthening the province’s financial ecosystem and promoting economic resilience.
Senior Vice President LCCI, Tanveer Ahmed Sheikh, stated that the decision reflects the Punjab Government’s firm commitment to economic reforms, institutional strengthening, and public welfare. He said that such forward-looking measures are essential to ensure financial security for businesses and citizens while fostering a more structured and inclusive economic environment.
He further noted that the establishment of a provincial general insurance company will play a crucial role in enhancing investor confidence, particularly in a time when businesses require reliable risk management solutions. He added that access to affordable and efficient insurance services will encourage industrial expansion, boost commercial activity, and support long-term investment planning across various sectors.
Tanveer Ahmed Sheikh emphasized that the initiative is also expected to extend insurance coverage to underserved segments of society, including small traders, farmers, startups, and low-income groups, who often remain outside the formal financial safety net. By bringing these segments into the insurance framework, the government is taking a meaningful step toward financial inclusion and economic empowerment.
He highlighted that a government-backed insurance entity can help mitigate financial risks arising from unforeseen events, thereby ensuring business continuity and economic stability. He also pointed out that the move aligns with international best practices where public sector institutions play a vital role in strengthening financial systems and protecting economic stakeholders.
The LCCI SVP expressed hope that the Punjab General Insurance Company will operate with transparency, professionalism, and efficiency, adhering to global standards of governance and service delivery. He stressed the importance of adopting modern technologies and customer-centric approaches to maximize outreach and effectiveness.
Concluding his remarks, Tanveer Ahmed Sheikh reaffirmed LCCI’s full support for progressive economic initiatives introduced by the Punjab Government and reiterated the business community’s commitment to collaborating with policymakers in achieving sustainable growth, investment promotion, and long-term prosperity in the province.
