SLIC Bill among 8 bills cleared by Senate
ISLAMABAD: The Upper House of the Parliament passed eight bills on Thursday including the Life Insurance (Nationalisation) (Amendment) Bill, 2026, a government bill that paves the way for the future privatisation of the State Life Insurance Corporation (SLIC). Already passed by the National Assembly, the bill seeks to amend the Life Insurance (Nationalisation) Order, 1972 for “greater operational…
The Senate of Pakistan, on Thursday, cleared eight bills, including the Life Insurance (Nationalisation) (Amendment) Bill, 2026. This government bill aims to pave the way for the potential privatisation of the State Life Insurance Corporation (SLIC) by amending the Life Insurance (Nationalisation) Order, 1972. The proposed amendments seek to enhance SLIC's operational flexibility, efficiency, transparency, and corporate governance.
The bill also establishes a legal framework for the eventual transformation of SLIC into a company under the Companies Act, 2017, aligning its legal structure with the State-Owned Enterprises Act, 2023, and other pertinent laws. However, this does not constitute a decision to privatise or divest SLIC, but rather removes legal barriers for future actions.
Seven other bills cleared by the Senate include the Higher Education Commission (Amendment) Bill, 2026, and the National College of Arts Institute (Amendment) Bill, 2026. In the same session, the Senate also passed a unanimous resolution urging a coordinated national effort to curb Pakistan's rapid population growth.
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