KP CM decides to launch life insurance scheme from January 1
PESHAWAR (APP): Chief Minister Khyber Pakhtunkhwa, Ali Amin Khan Gandapur, has decided to launch the Life Insurance Scheme from the 1st January 2025.
The scheme will offer financial assistance to families in case of death of the head of the household at any public sector hospital or a health facility empanelled under the Sehat Card program.
Under the insurance scheme, the provincial government will provide financial assistance of Rs. one million for individuals below the age of 60, and Rs. 500,000 for those above 60 years.
The initiative is estimated to cost Rs. 4.5 billion annually, which will be funded by the provincial government.
The decision was made during a high-level meeting chaired by the Chief Minister here the other day. The meeting was attended by Provincial Finance Minister Muzammil Aslam, Additional Chief Secretary Planning and Development Ikramullah Khan, administrative secretaries of concerned departments, and other officials.
The meeting also reviewed progress on the flagship projects of the incumbent provincial government including Life Insurance Scheme, Peshawar-Dera Ismail Khan Motorway, Establishment of Islamic Takaful Insurance Company, establishment of a Debt Management Fund, Construction of the Provincial Power Transmission Line, Home Stay Tourism Project, Solarization of Household and Government buildings and Trade Corridor Hub.
During the meeting the Chief Minister Gandapur set a three-month deadline for the establishment of the Khyber Pakhtunkhwa Islamic Takaful Insurance Company and directed officials to expedite the necessary paperwork on it.
He also emphasized the timely completion of Lot 1 of the provincial power transmission line, a 40-kilometer, 220kV line from Matiltan to Bahrain in Swat, at a cost of Rs. 8 billion, expected to be completed within 18 months. Lot 2, which will extend the line 120 kilometers from Bahrain to the Chakdara grid, is also in the pipeline. Once operational, the transmission line is projected to generate an annual revenue of Rs. 9 billion for the provincial government. The Chief Minister directed the Finance Department to release Rs. 2 billion immediately for land acquisition for the Peshawar-Dera Ismail Khan Motorway, with the process to begin simultaneously in both cities. During the meeting, the creation of a Debt Management Fund was highlighted as another key project, with an estimated monthly revenue of Rs. 400 to 500 million. The Chief Minister directed the immediate transfer of funds to make the fund fully operational.
To promote tourism, the provincial government has decided to advertise the Home Stay Tourism project by January 1st 2025. The chair also instructed the concerned officials to expedite the solarization of government buildings, a crucial component of the province’s energy sustainability plans.
The Chief Minister stressed the importance of these flagship projects, terming them pivotal for the province’s economic development, and assured that all necessary resources would be provided to ensure their timely completion. “These projects are of the public interest, and any unnecessary delays will not be tolerated,” he remarked, emphasizing that their benefits must reach the citizens without any delay.
