The Pakistani government will sell a 20% stake of state-owned State Life Insurance Corp. of Pakistan Ltd., Business Recorder reported, citing sources.
The stake sale will not affect the insurer's management control but will place State Life Insurance on the active privatization list, according to the report.
A meeting with officials and industry executives directed the commerce division, which is responsible for the insurer's administrative oversight, to submit a formal privatization summary to the cabinet committee on privatization.
State Life Insurance offers individual life plans and insurance plans in Pakistan.
