SECP Moves to Bring Insurance to 63 Million Uncovered Workers in Pakistan

The Securities and Exchange Commission of Pakistan (SECP) has unveiled a major initiative to expand insurance coverage for nearly 63 million unprotected workers across the country. This move aims to bring financial security to those working in Pakistan’s informal and unregistered sectors.

SECP officials stated that the plan includes the development of inclusive insurance products that are affordable, accessible, and tailored to the needs of low income workers. The initiative will focus on health, life, and accident coverage to ensure basic protection.

To implement the plan, SECP will collaborate with insurance companies, digital platforms, and labor organizations. The use of technology is expected to play a key role in reaching underserved populations in remote and rural areas.

This step is part of the SECP’s broader financial inclusion strategy, which aims to strengthen social protection and economic resilience. The commission believes this move will reduce poverty and enhance worker well-being nationwide.

The announcement has been widely welcomed by economists and social development experts. Many have called it a long-overdue measure to protect millions of Pakistanis who contribute to the economy without any form of insurance safety net.