Punjab Public Transport route permit system integrated with Insurance Repository

Public Transport's route permit system in Punjab has been integrated with Insurance Repository after the integration of both digital systems at SECP, reported 24NewsDH TV Channel. 

After their integration, the digital verification of third-party insurance of public transport vehicles will be made possible across Punjab. Now third-party motor insurance made mandatory for public transport route permits in Punjab as issue and renewal of route permits made conditional on third-party insurance. 

Dr Kabir Ahmed Sidhu, chairman of Securities and Exchange Commission of Pakistan (SECP) said that third-party insurance will provide financial protection to passengers, drivers and accident victims. 

Kabir Sidhu said insurance repository has data of about 1 million vehicles, adding that insurance coverage is still limited compared to the number of vehicles in the country. 

He said that emergency measures were being taken to increase insurance coverage. He said that Amendments to the law have been proposed for the implementation of third-party insurance at the federal level. Dr. Kabir said third-party insurance will be available on the basis of no-fault system. Third-party insurance will ensure timely compensation in case of accidents.