Islamabad: Federal Minister for Finance and Revenue, Senator Muhammad Aurangzeb, convened a consultative meeting with the Insurance Association of Pakistan (IAP) to deliberate on fiscal measures concerning the insurance sector for the upcoming Federal Budget 2026-27. The session, held at the Finance Division, was led by IAP Chairman, Mr. Shoaib Javed Hussain.

According to Ministry of Finance, the Finance Minister emphasized the importance of ongoing dialogue with key industry sectors to ensure policies align with economic priorities and bolster financial stability. The IAP delegation presented proposals centered on taxation and regulatory matters impacting the insurance industry.

Discussions addressed the existing taxation structure, highlighting the need for consistency and clarity in federal and provincial levies to support sectoral growth. The delegation advocated for maintaining alignment between legal, regulatory, and evolving policy standards.

Proposals included restoring tax incentives for policyholders to boost savings and insurance uptake, especially among salaried individuals. The dialogue also focused on enhancing the insurance sector’s role in financial development through improved investment frameworks.

The Finance Minister assured that the proposals would be meticulously evaluated in the budget context, reiterating the government’s commitment to a balanced fiscal policy that fosters financial sector development. The meeting concluded with consensus on the necessity for continuous collaboration to inform policy decisions and enhance the sector’s economic contributions.