Information Minister Dr Hasan Mahmud inaugurates the two-day long 3rd insurance fair on MA Aziz Stadium premises in Chattogram city on Friday. Photo: PID

Information Minister Dr Hasan Mahmud on Friday said present government has been striving hard to turn the country into a social welfare state with its mammoth development activities, reports BSS.
“Keeping this in view the government has sanctioned 13.81 percent in the present budget for widening social safety net with a view to turn the country into social welfare state like continental Europe and developed countries,” the minister said.
Dr. Hasan said a total of 125 programmes have already been brought under social safety net. The minister said this while inaugurating a two day long 3rd insurance fair on MA Aziz stadium Gymnasium premises in Chattogram city.
He said the country’s GDP in insurance sector is 0.67 percent, 4.1 percent in India while Europe and other developed countries is 10 percent. Dr Hasan Mahmud said there is 100 percent health insurance in Europe while the percentage in Bangladesh is .001 percent.
Information Minister underscored the need for introducing health insurance for extending support to the ailing, disaster prone and burn injured persons particularly for the low and middle class earner.
He urged the insurance companies to introduce life insurance for the drivers and group insurance for the workers in mills and factories as industrial sectors has exceeded agriculture sector.
“There are some allegations in nonpayment of insurance claim by a few insurance companies and they must regain the people’s trust and dependability in the sectors in order to strive ahead,” said Information minister.
Dr. Hasan said there are negative impacts in insurance sectors due to some companies and if this practice is stopped, Bangladesh will exceed India,. He further disclosed that the countries all indexes including social, human, average human longevity are higher than any other countries in the sub continents.
Earlier, the Minister went round different stalls in the fair.
Mohammad Shafiqur Rahman Patwary, Chairman of Insurance Development and Regulatory authority presided over the inaugural function. Ashadul Islam, secretary financial institution division, Chairman of Jibon Bima Corporation Selena Afraj and Commissioner of Chattogram Division, Abdul Mannan among others addressed the function.
A total of 78 insurance companies including two state owned set up 102 stalls.
Holding of seminars, discussion meetings, setting up of stalls and cultural functions are highlights of the two day fair.
Chattogram City Mayor AJM Nasir Uddin is expected to attend the concluding function as chief guest. Visitors will be able to know the insurance of life, health, group, fire, car and pension schemes, organizer said.