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Fifteen per cent increases on the basic salary with added Rs.1700 increase on allowances are the key benefits for employees in the State Life Insurance Corporation in Pakistan under the Collective agreement inked in Karachi last week, said Shahid Waheed President of State Life Insurance Employees’ Union. All benefits will be paid with retrospective effect from January 2015.

State Life Insurance Corporation is a state owned profit making institution with annual growth rate of 15% which is the market leader in life insurance business in Pakistan. The institution was established in 1972 for providing insurance coverage to far flung areas in the country

At the request of Pakistan Bank Insurance Employees Federation [PBIFEF] to which State Life Insurance Corporation is affiliated, UNI Apro Regional Secretary Christopher Ng extended solidarity to the union; and wrote to the Chairperson of the Corporation Ms. Nargis Ghaloo seeking her intervention to expedite the negotiation process on 25th May 2016. (Refer to the related file below)  

At the 5th South Asia Financial Sector Unions Council (SAFSUC) meeting held on 20th June 2016 in Colombo Sajid Ali Abbasi, General Secretary of PBIFEF thanked UNI Apro for extending the solidarity support; as it  really strengthened the unions stand to work towards negotiated settlement.Sajid solicited UNI Global Union’s international solidarity support to their union’s national campaign to prevent privatisation of State Life Insurance Corporation, a profit making national asset that belongs to the people of Pakistan.

PBIFEF reported that the Government of Pakistan is planning to privatise the profit making State Life Insurance Corporation through a Presidential Ordinance arbitrarily; at the behest of vested business interest. State Life Insurance Employee’s Union is spearheading a national campaign against the privatisation of the corporation.