ISLAMABAD: The Competition Commission of Pakistan (CCP) has commenced a study rega­rding the assessment of the insurance sector.

The study will evaluate whether public sector insurance companies were hindering the gro­wth of insurance market in the country.

The study, being conducted under IMF’s Public Investment Management Assessment framework, aims to evaluate the government’s footprint on key sectors through state-owned ente­r­­p­rises and its implications for competition and the overall economic landscape.

It will also examine the role of SOEs in insurance and reinsurance markets and analyse why this sector is underdeveloped. It will also examine how the market can be opened up to international players.

Privatising state-owned insurance firms is desirable to diminish public sector dominance, attract foreign investment and create a level playing field for the private sector to boost insurance penetration.

Published in Dawn, April 9th, 2024