ISLAMABAD: Pakistan Economy Watch (PEW) on Thursday said insurance cover is mandatory for reopened industries therefore this sector should also be allowed to serve so that risks can be mitigated.
Extension in lockdown is a good move as life of masses is important than livelihoods, it said.
Reopening of industries will kick start the stalled economic activity, provide jobs to millions, and generate revenue, said Chairman Brig. (retd) Muhammad Aslam Khan.
Talking to noted chartered accountant Tariq Hussain and other experts, he said that the reopened sectors will need mandatory insurance cover which is not possible due to closure.
Importers, exporters, manufacturers, transporters and others will find it difficult to operate without the insurance cover, he added.
Muhammad Aslam Khan said that the insurance sector is providing security to lives, businesses and assets of millions of people and many among them need timely help but their claims cannot be processed due to closure.
At the occasion, Tariq Hussain said that insurance is mandatory for imports, exports and movement of raw material, semi-finished and finished goods which should be allowed to operate otherwise it may hit the confidence of the business community.