Finance Minister presents Insurance Draft 2075 in the parliament; Rastriya Beema Sansthan to be converted into Beema Company

Finance Minister Dr Yubaraj Khatiwada has presented the Insurance Draft 2075 in the parliament. Dr Khatiwada has presented the draft in the parliamentary meet held today. The draft was made for the amendment and unification of Insurance rules.

National Insurance policy is believed to systematize the entire insurance business of the nation. The initiation of the implementation of the draft will be done by the conversion of Rastriya Beema Sansthan as Rastriya Beema Company.

Dr Khatiwada also clarified the reason for the conversion of the Beema Sansthan into Beema Company. He said that the Beema Company can co-operate easier with the State Government in the near future.

Dr Khatiwada did not mention anything about the issue of shares of Beema Sansthan. He said that the company would be operating under the complete ownership of the government. He urged the insurance companies to maintain stability and become stronger in the upcoming days.

Addressing the parliament, the finance minister said that it has become necessary to make the insurance and banking sector clear, transparent and competitive. He also said that the reach of insurance will be extended to the areas where it has not reached yet and planning for providing free health insurance for people of certain age group has been going on.  He further stated that Nepal Rastra Bank has started necessary procedures for the insurance of people above 70 years.