ISLAMABAD: Securities and Exchange Commission of Pakistan has recommended the federal government to introduce mandatory health insurance for the private sector employees, Radio Pakistan reported.

According to SECP, the compulsory occupational health insurance scheme can be introduced by amending the 1968 West Pakistan Industrial and Commercial Employment Ordinance.

The move is aimed at covering full-time workers, including permanent, contract, and temporary workers and their dependents. The cost of the scheme will be borne by the employers.

The hospitalization benefit to each employee and their dependents is proposed to be provided on a cashless basis for network hospitals and on a reimbursement basis in case of out of network hospitals.

The mandatory health insurance will enhance the financial inclusion in Pakistan by making insurance accessible to those workers who have currently no health insurance.