President of the crop insurance system to protect farmers

President Dr Arif Alvi on Monday called for a user-friendly crop insurance system to protect farmers against crop failure and loss caused by man-made or natural calamities, especially following the super floods caused by the global warming in Pakistan.

The president, chairing a meeting on crop insurance, said comprehensive measures to prevent the adverse effects of climate change should be taken as a priority to save the agricultural sector. The President called on the insurance industry to launch a comprehensive national program of consultation and discussion involving all stakeholders through seminars and workshops.

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He said that best practices and successful crop insurance models from regional and international countries should be considered as references to obtain inputs for developing a comprehensive, market-based crop insurance policy. and technology-based. He said that collaborations with agricultural universities in the country should also be developed by organizing seminars and workshops and conducting relevant in-depth research to help insurance players base their policy and products on research. solid and an authentic database.

President Alvi called on the insurance industry and other stakeholders to particularly focus on the 93% of Pakistani farmers who owned land holdings of 12.5 acres or less when introducing their insurance products. He said farmers’ contributions should be tied, either to inputs or crop production, as deemed appropriate, and farmers’ welfare and welfare should be ensured.

He said that in order to encourage farmers to opt for crop insurance voluntarily, the State Bank of Pakistan could advise banks to increase their portfolio of agricultural loans specifically targeting subsistence farmers, owning properties land of 12.5 acres or less. The President said that all stakeholders, such as banks, insurance companies and federal and provincial governments, should launch an awareness campaign, by organizing seminars, workshops, fairs and roadshows, in target areas.

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The campaign is also expected to unfold through the launch of publicity campaigns in conventional and social media to educate farmers to voluntarily opt for crop insurance and protect them against crop failure and crop destruction during calamities. human or natural. President Alvi said that satellite imagery to determine weather conditions, an authentic database and sophisticated technologies based on artificial intelligence should be used to plan insurance products and to compensate farmers affected by bad weather. crops and the destruction of crops.

This, he said, would help build the resilience of farmers against crop failure and crop destruction due to natural or man-made disasters. The President appreciated the government of Punjab for initiating the Punjab Crop Insurance Scheme to provide yield loss protection to farmers in the event of crop failure and crop loss due to calamities and disasters.

The meeting was informed that a total of 1.48 million farmers from 27 districts of Punjab were insured against crop failure through a pilot program based on loans from the World Bank. He was also informed that the contribution of insurance in the country, compared to regional and international countries, was quite low and needed to be improved. Senator Sania Nishtar, Minister of Agriculture of Punjab, Syed Hussain Jahania Joyeuxi, Federal Insurance Ombudsman Dr. Muhammad Khawar Jameel and senior executives from insurance companies attended the meeting.

President Dr. Arif Alvi on Monday emphasized the need for close, meaningful and effective collaboration between federal and provincial governments, local authorities, and the public and private sectors to promote investment in the country’s mining and mining sectors. He was addressing a meeting of various private and public sector stakeholders regarding mineral exploration in Pakistan, here at the Aiwan-e-Sadr, the press wing of the President’s Secretariat said in a press release. hurry.

Senior officials from the Ministry of Energy (Petroleum Division), Ministry of Commerce, Federal Revenue Office and Government of Gilgit-Baltistan attended the meeting. The President said that Pakistan is endowed with huge high quality mineral resources like coal, copper, gold, gemstones, silver and rare metals which need to be explored and mined using tools and modern mining processes based on information technology to realize the full potential of the mining sector to bring a visible change in the socio-economic development of the country.

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