ISLAMABAD: The Federal Government has appointed former Senator Saleem Zia, a Pakistan Muslim League-Nawaz (PML-N) member, as the new Chairman of the Board of Directors (BoD) of the State Life Insurance Corporation of Pakistan (SLIC). The Ministry of Commerce issued the official notification announcing his appointment.
Zia, who represented Punjab in the Senate from March 2015 to March 2021, replaces Suleman Mehdi as the new chairman. The appointment marks a significant leadership change in one of Pakistan’s largest state-owned enterprises.
New independent directors join the board
Along with Zia’s appointment, the government also named Khaqan Murtaza and Shehryar Iftikhar Khan as Independent Directors on SLIC’s Board. Their inclusion aims to strengthen corporate governance and improve operational oversight within the organization.
Appointments made under LINO and SOE Act
According to the notification, the appointments were made under Section 47 of the Life Insurance Nationalization Order (LINO), 1972, and Section 15 of the State-Owned Enterprises (Governance and Operations) Act, 2023. The decision also aligns with Para 24(k) of the State-Owned Enterprises (Ownership & Management) Policy, 2023.
The Ministry of Commerce has instructed the SLIC Company Secretary to complete all required formalities in accordance with relevant laws and regulations.
