Asia Insurance Review

The government and the business sector are still negotiating the details
for the Draft of Regulation on Job Cut Insurance and it is not known when
the draft would be ready.

Businessmen were reported to have said that they would want a ceiling for
the contribution and that should be five times the non-taxable income. As
the non-taxable income is Rs 1.1 million (US$116.6 dollars), five times
that amount would be Rs 5.5 million. Without the ceiling, they would not
be willing to agree to the regulation.

However, as the government has a different view on what the regulation
should be, the negotiations have since stalled.

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