Tuesday December 07, 2021

Insurance workers facing financial crunch

May 02, 2020

Islamabad: Hundreds of field workers of State Life Insurance Corporation (SLIC) of Pakistan numbering over 200,000 are facing great financial hardships and have appealed to PM and CJP to address their grievances.

Mulazim Hussain, leader of All Pakistan SLIC Field Workers alleged that because of implementation of a policy since February 01,2019 by Board of Governors of this corporation, under which all sales officers of SLIC were merged into Sales Manager cadre due to which 50 per cent emoluments/benefits were slashed. They alleged that because of this policy not only SLIC faced negative impact with regard to generating financial income but also 28 field workers died after getting affected with this plan.

Similarly, with the spread of coronavirus in February and subsequent lockdown, the situation further worsened forcing the field workers to suffer badly in terms of earning income through commission which according to them has touched to zero level.

Continuing, they alleged that though field workers have been suffering enormously and raised their voices for getting justice however, the high level authorities while adopting stubbornness has taken no step to provide any kind of relief to them for improving their financial situation.

The field workers do not get salaries but rely on commission, claimed Sardar Altaf along with other representatives. On the other hand with our hard work, full dedication, SLIC had been achieving triple rating award (AAA) and making great progress which includes construction of buildings worth billions of rupees all over the country which have been rented out to different parties.

When contacted SLIC Executive Director Muhammad Izqar Khan denied the claims of field workers that they are suffering from the high handedness of the management. Rather, clearing, he said that the decision was taken in a meeting of Board of Governors in accordance with the instructions of Securities and Exchange Commission of Pakistan (SECP). He said that the SECP had directed all the insurance companies to curtail their expenses to overcome losses.