Calamity-hit areas deprived of crop insurance scheme
June 18th, 2012 | Technology Times | No Comments
STAFF REPORT IBD: The Crop Loan Insurance Scheme (CLIS) has so far not achieved its desired objectives as the high-ups of district administration in the country mostly notify areas other than calamity-hit areas on the recommendation of parliamentarians and ministers.
“The government had allocated Rs 500 million last budget and another allocated Rs 500 million in the new budget for CLIS but due to political interference the allocated fund did not reach the deserving farmers as the concerned authorities mostly notify areas other than calamity-hit areas,” sources claimed.
ZTBL has entered into an agreement with the Adamjee Insurance Company and National Bank of Pakistan (NBP) along with NIC for the insurance scheme specific to the agriculture sector.
According to the criterion specified in the policy but not being implemented small farmers are defined as those having agricultural land-holdings of around 12.5 acres in Sindh and Punjab, 16 acres in the NWFP and 30 acres in Balochistan.
The insurance companies were to pay the loan with mark-up to the banks if farmers were not able to repay loan due to damage to crops; the scheme was targeted to benefit all the stakeholders, including banks, farmers and insurance companies.
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