There is an urgent need on the part of the government and the authorities to take effective measures to boost Islamic insurance in Pakistan to cater to the needs of people, said Mr Ahmed Hasnain, senior vice president of the Pakistan China Joint Chamber of Commerce and Industry (PCJCCI).

Mr Shah Faisal Afridi, PCJCCI president, said that China-styled reforms in the insurance sector could prove to be a quantum leap in the economic mobility of the country, according to Associated Press of Pakistan.

He said that Pakistan's insurance sector has great potential especially with the forthcoming second phase of the China-Pakistan Economic Corridor.

PCJCCI general secretary Salahuddin Hanif said that the policy environment for Chinese companies in the insurance arena in Pakistan is very conducive, as the government of Pakistan is eager to overcome inefficiencies and flaws in the sector. He said that Pakistan could attract investment by Chinese insurance companies.