ISLAMABAD: Federal Minister for Communications Abdul Aleem Khan has expressed dissatisfaction over the performance of the Postal Life Insurance Company (PLIC).
Chairing a high-level review meeting, he called for a comprehensive business plan to enhance the institution’s income and credibility.
In his remarks, the federal minister stated that it is unaffordable for any organisation to have higher expenditures than income which is the existing position of PLIC.
He emphasised that corruption and incompetence must be eliminated in public sector organisations.
He directed that PLIC must promptly arrange for the payment of outstanding claims and present a reformed roadmap to overcome its shortcomings.
Highlighting the need for structural changes, Aleem Khan underscored that reforms in the administrative framework of the Postal Life Insurance Company are essential to meet modern-day challenges.
He stressed that government funds will not be allowed to go to waste under any circumstances.
While reviewing the company’s performance, Aleem Khan further stated that instead of relying on government grants, public sector organisations should focus on enhancing their own resources and revenue.
He urged officials to change their approach by adapting to contemporary demands and work diligently to boost internal resources. He added that for PLIC to achieve real progress it must compete with private sector entities and ensure greater profitability with minimal human resources.
During the meeting, the federal secretary for communications and the director general of Pakistan Post briefed the Federal Minister for Communications on various challenges and issues being faced by the organization of Postal Life Insurance Company.
It was decided that the Finance department will formally be approached to get help in resolving the financial issues of the company.
Additionally, a follow-up meeting will also be held in a week to review the new business plan.
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