ISLAMABAD – The United Business Group (UBG) of FPCCI on Saturday said better insurance coverage was imperative for the development of agricultural economy. “Well-placed and sound agri insurance system can strengthen the agriculture sector of the country and successfully address the issues of food insecurity in Pakistan,” said Secretary General of UBG Zubair Tufail
He said that farmers could be saved from the negative effects of disease, drought, floods, pests and other risks by offering them a proper insurance cover. Tufail further noted that agricultural yields could go up significantly, and livestock sector could improve if the cultivators got protection.
He said that insurance companies needed to be encouraged to offer wide range of products to the rural population that feels unsafe due to frequent floods, calamities and pest attacks.
He called for introducing a mechanism for training people in agriculture risk management, and to enable them to identify opportunities and develop products that could help mitigate the risks.
“There is a need to build the capacity of the institutions by providing them the knowledge and skills required to design and implement agriculture insurance programmes,” he said, and added,
“Agri insurance alone is not enough to solve the problems of growers. It is also important to provide farmers with good agricultural practices and services that allow them to improve productivity.”