Rs 5 billion fraud revealed in State Life Insurance Corporation of Pakistan during previous tenure

ISLAMABAD – The Public Accounts Committee has ordered an audit of the StateLife Insurance Corporation of Pakistan after it was informed thatfake insurance agents have caused a loss of nearly Rs5 billion to thenational exchequer.

These agents were registered with the State Life Insurance Corporation ofPakistan, revealed Federal Trade Secretary Younus Dagha.

The agents were paid a commission of nearly Rs5 billion, Dagha informedthe Public Accounts Committee on Monday.

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Public Accounts Committee Chairperson Shehbaz Sharif has ordered an auditof the company.