Islamabad: A Senate Standing Committee on Commerce meeting in Islamabad, chaired by Senator Anusha Rahman, called for a comprehensive report on the properties owned by the State Life Insurance Corporation and their current status. The meeting, attended by several senators and the Federal Minister for Commerce via virtual link, focused on discrepancies in the reported number of properties and ongoing legal disputes.

According to Senate of Pakistan, the meeting’s primary agenda was based on a question from the Upper House regarding State Life Insurance’s property details. It was revealed that a previous report had inadvertently omitted the second page of a list, resulting in an underreporting of properties—46 instead of the actual 71. The discussion centered on 13 properties currently embroiled in legal disputes, stemming from issues of non-availability of mutation and title deeds post-nationalization in 1972. The CEO of State Life Insurance Corporation explained that litigation has been necessary to reclaim properties still occupied by original owners.

Concerns were raised by the committee about the protracted legal battles, prompting questions about the effectiveness of the legal teams engaged by State Life Insurance. Senator Talha Mahmood stressed the need for more capable lawyers to resolve pending cases swiftly. The committee has directed State Life Insurance to provide detailed, case-wise reports on all disputed properties, including information about the lawyers involved, their remuneration, and the defendants’ positions.

Additionally, Senator Talha Mahmood addressed the imbalance in Pakistan’s imports and exports, urging the Ministry of Commerce to take decisive action. The Secretary of Commerce responded that various factors impact export performance and promised a detailed briefing in the committee’s next meeting.