The Sindh government decided to introduce amendments in the Sindh Motor Vehicle Act and declared third-party insurance of vehicles as mandatory, reported 24NewsHD TV channel on Saturday.
According to details, no vehicles will be registered without third-party insurance. The third-party insurance is also mandatory for payment of the token tax and transfer of the vehicle.
In case of a road accident and loss of life, the affected person will be paid Rs7 lakh, and permanent disable person will get Rs lakh.
Security and Exchange Commission (SECP) said that “we are continuously taking measures to Efforts are being made to make third-party motor insurance a part of the Vehicle Registration Act.
SECP further revealed that for the verification of third-party insurance, data base is complete.
Efforts are also being made in Punjab b to link vehicle route permits with the insurance system.
Reporter: Ashraf Khan