Insurance surveyors reject SRO

LAHORE: The Insurance Surveyors Associations has said that SRO 1057 issued by the Securities and Exchange Commission of Pakistan (SECP) will cause unemployment in the industry, a statement said on Tuesday.
In a meeting of the Insurance Surveyors Associations, its President Junaid Zaidi said that this illegal SRO is a continuation of unemployment policy by the government.
He said that the SECP had issued such SROs earlier in the time of Musharraf and Zardari regimes, which were challenged in the Sindh High Court by the association.
However, those cases were ended to consent decree that onwards the SECP will not impose any extra condition upon the surveyors. This SRO is also the contempt of court, he said.
Expressing concerns on some of the clauses of the SRO 1057, Zaidi said that sections 48, 49 and 51 are the major concerns for the association.
He said some sub-sections are unacceptable to the surveyors, as these dealt with authorising surveying officers, training and continuous professional development and the surveys and reports of insurance surveyors. The association demanded the SECP to stop further progress in this SRO 1057, otherwise they will compel to again approach the court of law to get relief.