ISLAMABAD – Reiterating once again that the local insurance companies should be able to deal with the massive influx of foreign funds coming as part of the China Pakistan Economic Corridor, the Federation of Pakistan Chamber of Commerce and Industry (FPCCI) said that the money can be dumped in the barren lands of Balochistan.
While addressing a meeting with representatives of leading insurance companies and government officials, FPCCI Senior Vice President Mian Shaukat Masud said that till Pakistan figures how to safely manage the infinite volumes of money that has already started coming through the CPEC, the unutilised lands of Pakistan’s largest province could be the temporary option.
“The amounts that I’ve been hearing about are so huge that my first instinct was to think of a place large enough to hold all that money. I mean I don’t even know counting beyond umpteen gazillion. Maybe the Chinese have their own counting,” Masud said.
“Can you imagine the size and weight of the cash bundles that we would have to secure? What are the insurance companies doing about it? Where will we keep all that money?”
He said the insurance companies should prepare to handle the opportunities and challenges arising out of CPEC, and asked the government to allocate lands in Balochistan to these firms so that the money coming through the game-changing project can be secured.
“Government should establish a separate regulator for insuring these insurance companies that will be working in Balochistan,” he said adding that the cash bundles coming through CPEC should be covered against all risks and be given life insurance, health insurance, and disability insurance.