ISLAMABAD - The board of directors of State Life Insurance Corporation of Pakistan has promoted all existing sales officers to the higher tier of sales managers and enhancing their sales commission from 8% to 10%, which will result in savings of around PKR 5 billion a year.

State Life Insurance Corporation of Pakistan, the premier and only AAA-rated insurance company of the country, is committed to provide higher benefits to its policy holders and to its genuine and dedicated officers and staff.

The board of directors of the corporation has resolved to plug financial leakages and pass on maximum benefits in the shape of better bonuses to policy holders and enhanced commissions to its field force by showing zero tolerance for malpractices such as dummy agents and fraudulent commissions, according to the ministry of commerce.

To achieve such objective, board of directors took a revolutionary step to promote all existing genuine sales officers to the higher tier of sales managers and enhancing their sales commission from 8% to 10%, which will result in savings of around Rs 5 billion a year and the same shall be distributed to its policy holders in shape of better bonuses.

With this prudent decision, none of the sales officers will lose his job, rather they will get promotion and enhancement in their incomes. As was expected, some of the beneficiaries of the practice of claiming fraudulent commission in the name of dummy sales officers, have resorted to hindering the working of the corporation and created disturbances at some of the offices of the corporation. Such elements are being dealt with the help of law enforcement agencies. If such elements kept on indulging in their nefarious activities, strict legal actions will be taken against them and their supporters in the Corporation.

A petition was filed against the decision of the Board of Directors in Honorable Sindh High Court Sukkur Bench to get stay order. The Honorable Court turned down the prayer to grant stay order. In past too the courts have upheld prudent and justiciable decisions of the management.