SCCI, FIO sign MoU to resolve issues of business community

A Memorandum of Understanding (MoU) was signed between Sarhad Chamber of Commerce and Industry (SCCI) and Federal Insurance Ombudsman (FIO) in order to promote joint collaboration, especially to take prompt action of business community complaints.

The agreement was signed by SCCI President Hasnain Khurshid Ahmad and Federal Insurance Ombudsman (FIO) Dr Khawar Jamil during a ceremony held here at the chamber’s house on Friday. 

Hasnain Khurshid stressed the need for strengthening collaboration with the Federal Insurance Ombudsman office and resolving the insurance related issues faced by the business community.

He urged the FIO office to take pragmatic steps to promptly re-address grievances of the business community and provide them relief. 

On the occasion, Mr Khurshid suggested the SCCI’s  web portal should be directly linked with the Federal Insurance Ombudsman Office Islamabad. 

Dr Khawar Jameel fully agreed with the SCCI proposals and suggested the formation of a joint committee between FIO and SCCI as well as appointment of a focal person to take up issues and complaints of the business community on a daily basis.

The chamber’s president emphasized the need for early release of outstanding dues of the business community by the insurance companies to ease their economic owes. He suggested the establishment of a central database system. 

Hasnain Khurshid urged the FIO to implement the SCCI’s recommendations to provide swift relief to the traders, 

In addition Dr Khawar Jamil assured the business community of instant action to be taken on their complaints and provide them relief at every level. 

He enlightened the participants about the significance and key functions of the FIO office and asked the business community to approach his office to take prompt action on their complaints. 

Dr Khawar said that FIO had ensured release of over Rs2 billion through banks to claimants since the last two to three years, which is a major achievement. 

He informed that as many as 1,800 complaints had been registered in 2019, which were gradually increased by 3,000 complaints and 3,800 in 2020 and 2021 respectively. He added the huge backlog of complaints occurred owing to the outbreak of corona virus pandemic.

The FOI said the reforms process had been initiated, which was producing positive results and ensuring quick relief to complaints.

Ghazanfar Bilour during his speech pointed out that public and private insurance companies had been looting people by using various tactics through means of commercial banks. He urged the FIO office to take actions against the mafia involved in this illegal business and provide business community prompt relief.